document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=152297>Question 152297</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A man borrowed $3600 for 1 month at an annual rate of 5%. How much interest did he owe? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #111967 by </B><A HREF=/tutors/aboutme.mpl?userid=orca><B>orca(409)</B></A><img src=\"/images/stars/stars-10.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=orca><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=111967\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> First we need to figure out the monthly interest rate.<BR>\n" );
document.write( "The monthly interest rate is the annual interest rate divided by 12.<BR>\n" );
document.write( "So the interest rate per month is <BR>\n" );
document.write( "5%/12 <BR>\n" );
document.write( "The interest for 1 month is<BR>\n" );
document.write( "3600*5%/12<BR>\n" );
document.write( "= 15<BR>\n" );
document.write( "So the interest is $15<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );