document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=176107>Question 176107</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Billy borrowed $35 from Merry ten months ago. Today, Billy paid Merry back $3695. What is the annual interest rate that Billy paid? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #131196 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=131196\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Billy borrowed $35 from Merry ten months ago. Today, Billy paid Merry back $3695. What is the annual interest rate that Billy paid?<BR>\n" );
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document.write( "Total interest: 3695-35 = 3660<BR>\n" );
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document.write( "I = Prt<BR>\n" );
document.write( "3660 = 35r(10/12)<BR>\n" );
document.write( "r = [3660/35][12/10]<BR>\n" );
document.write( "r = 125.49 or 12549%<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.\r<BR>\n" );
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