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slayer8001

  • one year ago

If a man earns $420 interest in one year at 7%, what was the amount of money invested?

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  1. slayer8001
    • one year ago
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    the answers are $29.40 $60.00 $600.00 or 6000.00

  2. anonymous
    • one year ago
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    Well a simple way to do this, You are earning 7% of what you already have in there, so you can't have an answer that's lower than 420. so you can already get rid of A and B

  3. anonymous
    • one year ago
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    That just leaves you with C and D to choose from, which one would you think that it would be? being that 7% of your answer is 420, you know it must be pretty big.

  4. slayer8001
    • one year ago
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    6000.00?

  5. anonymous
    • one year ago
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    no

  6. slayer8001
    • one year ago
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    oh so 600.00

  7. anonymous
    • one year ago
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    its 29.40

  8. anonymous
    • one year ago
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    No. It was 6,000.00 You had that right the first time,

  9. slayer8001
    • one year ago
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    but duck told me that it couldn't be any lower than 420

  10. anonymous
    • one year ago
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    I already told you, it can't be A/B those are lower than our original values therefore impossible to obtain from a 7% interest rate.

  11. anonymous
    • one year ago
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    read the ? look multiply 420*.07

  12. anonymous
    • one year ago
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    Okay here is what I want you to do, Get a calculator and type 0.07 and multiply that by each of your answers.

  13. anonymous
    • one year ago
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    ok

  14. slayer8001
    • one year ago
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    ok

  15. anonymous
    • one year ago
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    nvm srry duck u were right its 6000

  16. slayer8001
    • one year ago
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    ok I did it and its 6000.00

  17. slayer8001
    • one year ago
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    ok thanks again duck

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