While not one of the official motives, it certainly was one of the reasons. American banks had lent huge amounts of money to Britain and France to finance their war. By 1917, when the US entered the war, the British and French were so heavily indebted, that their inability to pay the money owned would very likely cause the American banking system to go under. An Entente victory was the only insurance that the money would be paid back in full.
The last part of this question is a what-if question which is not allowed under our rules.
However I have let it stand since the first part is legitimate. Please disregard the second part.
Well actually, while financial concerns did affect American actions (watch out for people spouting this though because it descends into something about the Jewish conspiracy a fair % of the time), the immediate reason why US entered the war was due to the Zimmermann telegram, which was a suggestion by Germany to Mexico for an alliance against the US in exchange for the "reparation" of territory lost by Mexico to the US in the Mexican War in the event of a Central Power Victory.
http://en.wikipedia.org/wiki/Zimmermann_Telegram
The message came as a coded telegram dispatched by the Foreign Secretary of the German Empire, Arthur Zimmermann, on January 16, 1917. The message was sent to the German ambassador to Mexico, Heinrich von Eckardt. Zimmermann sent the telegram in anticipation of the resumption of unrestricted submarine warfare by Germany on 1 February, an act which Germany presumed would lead to war. The telegram instructed Ambassador Eckardt that if the U.S. appeared certain to enter the war, he was to approach the Mexican Government with a proposal for military alliance, with funding from Germany. As part of the alliance, Germany would assist Mexico to reconquer Texas and the Southwest. Eckardt was instructed to urge Mexico to help broker an alliance between Germany and Japan. Mexico, far weaker than the U.S., ignored the proposal and after the U.S. entered the war, officially rejected it.