document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=176105>Question 176105</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Billy borrowed $95 from zack three months ago. Today, Billy paid zack back $5624. 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 #131219 by </B><A HREF=/tutors/aboutme.mpl?userid=ptaylor><B>ptaylor(2198)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ptaylor><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/cgi-bin/show-face.mpl?user=ptaylor><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=131219\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Interest(I)=Principal(P)*Rate(R)*Time(T) or I=PRT; R=I/PT<BR>\n" );
document.write( "The interest that accrued =$5624-$95=$5529\r<BR>\n" );
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document.write( "$5529=$95*R*(1/4)  multiply each side by 4<BR>\n" );
document.write( "$22116=$95R  divide each side by $95<BR>\n" );
document.write( "R=232.8 in order to convert this to a percentage, we must multiply by 100, so<BR>\n" );
document.write( "R(%)=23280%\r<BR>\n" );
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document.write( "CK<BR>\n" );
document.write( "5529=95*232.8*(1/4)<BR>\n" );
document.write( "22116=22116\r<BR>\n" );
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document.write( "Does this help?---ptaylor\r<BR>\n" );
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document.write( " </SPAN>\n" );
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