document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=219513>Question 219513</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Peter borrowed $12,000, which he paid back after 4 years at a simple interest rate of 8%. Find the total amount that Peter paid back. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #165059 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><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=165059\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Recall that the simple interest formula is <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=I=Prt ALIGN=MIDDLE  ALT=\"I=Prt\"   DISABLED_style= \"max-width:90%; height:auto;\" > where 'I' is the interest, P is the balance/principal, 'r' is the interest rate, and 't' is the time in years.\r<BR>\n" );
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document.write( "So let's first find out how much interest he paid:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=I=Prt ALIGN=MIDDLE  ALT=\"I=Prt\"   DISABLED_style= \"max-width:90%; height:auto;\" > Start with the given formula.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=I=12000%280.08%29%284%29 ALIGN=MIDDLE  ALT=\"I=12000%280.08%29%284%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Plug in <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P=12000 ALIGN=MIDDLE  ALT=\"P=12000\"   DISABLED_style= \"max-width:90%; height:auto;\" >, <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r=0.08 ALIGN=MIDDLE  ALT=\"r=0.08\"   DISABLED_style= \"max-width:90%; height:auto;\" >, and <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=t=4 ALIGN=MIDDLE  ALT=\"t=4\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=I=3840 ALIGN=MIDDLE  ALT=\"I=3840\"   DISABLED_style= \"max-width:90%; height:auto;\" > Multiply\r<BR>\n" );
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document.write( "So he paid $3,840 in interest alone.\r<BR>\n" );
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document.write( "Now just add this to the amount he borrowed (since he has to pay that back too) to get: <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=12000%2B3840=15840 ALIGN=MIDDLE  ALT=\"12000%2B3840=15840\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "So Peter paid back $15,840 total. </SPAN>\n" );
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