document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=4700>Question 4700</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If an annual rate of 7.5% in simple interest is charged on a loan of $290 and no payments are made for 9 months, to the nearest whole cent how much is owed? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #2198 by </B><A HREF=/tutors/aboutme.mpl?userid=XOXO><B>XOXO(1)</B></A><img src=\"/images/stars/iconNewId_16x16.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=XOXO><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=2198\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> The answer is $306.31  the amount owned, this is principal + interest.\r<BR>\n" );
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document.write( "$290.00 + $16.31= $306.31\r<BR>\n" );
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document.write( "formula in simple interest: <BR>\n" );
document.write( " I=  P*R/t\r<BR>\n" );
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document.write( "Where:<BR>\n" );
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document.write( "I= Simple interest     P= Principal    R=  annual rate  t= time\r<BR>\n" );
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document.write( "So if we have  <BR>\n" );
document.write( "    I= $290*7.5%/12  = 21.75/12 = 1.81*9= $16.31<BR>\n" );
document.write( "     \r<BR>\n" );
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document.write( "So, Total amount owned is    A= P+I   ,   A= $290+$16.31,  A=$306.31<BR>\n" );
document.write( "Where:  A= Total amount,  P= Principal,  I= interest </SPAN>\n" );
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