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

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Question 889752: If $400 is invested at the rate of 6% for one year, what will be the total value of the investment (the amount)?
Answer by JulietG(1812) About Me  (Show Source):
You can put this solution on YOUR website!
It depends upon how often it's compounded. Assuming that it is compounded annually, the total value will be 400 * 1.06 = $424