Question

If $400 is invested at the rate of 6% for one year, what will be the total value of the investment (the amount)?

Answer 1

Hmm... Let's see..

Alrighty: $400= 100% (the whole amount of money). 1% of that money= 400/100. If $400 invests once in one year, that is... 424 dollars. 

Anyone out there who is looking for monthly payment, you invest 400 dollars with interest, the answer is 4934.22

Hope that helps ya!