Find the simple interest on a 400 investment made for 5

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Find the simple interest on a $400 investment made for 5 years at an interest rate of 7%/year. What is the accumulated amount?

A) The simple interest is $140, the accumulated amount is $540.

B) The simple interest is $115, the accumulated amount is $515.

C) The simple interest is $120, the accumulated amount is $520.

D) The simple interest is $125, the accumulated amount is $555.

Reference no: EM13392056

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