If a man earns $420 interest in one year at 7%, what was the amount of money invested?
1 Answer
Oct 23, 2016
Assuming it was not compounded interest:
X = $420 * 100/7
Explanation:
Assuming it was not compounded interest:
The equation is looking for X, the amount of money invested.
The equation would be:
X * 7/100 = $420
Then solve for X by multiplying each side by 100/7 gives you:
X = $420 * 100/7
