(70 Points)
1. If $400 is invested at the rate of 6% for one year, what will be the total value of the investment (the amount)?
$42.40
$424.00
$4,240.00
2. If a man earns $420 interest in one year at 7%, what was the amount of money invested?
$29.40
$60.00
$600.00
$6,000.00
