document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=376376>Question 376376</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How do you solve:\r<BR>\n" );
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document.write( "What is the maximum amount you can borrow today if it must be repaid in 4 months with simple interest at 8% and you know that at that time you will be able to repay no more than $1500?\r<BR>\n" );
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document.write( "Thank you!  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #267784 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16946)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mananth><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=mananth><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=267784\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Principal = $x<BR>\n" );
document.write( "rate = 8%<BR>\n" );
document.write( "time = 4 months = 1/3 years<BR>\n" );
document.write( "...<BR>\n" );
document.write( "Amount to be paid = $1500<BR>\n" );
document.write( "..<BR>\n" );
document.write( "Amount = Principal + interest<BR>\n" );
document.write( "amount = x+0.08*0.33*x<BR>\n" );
document.write( "Amount = x+0.0264x<BR>\n" );
document.write( "Amount = 1.0264x<BR>\n" );
document.write( "...<BR>\n" );
document.write( "1.0264x=1500<BR>\n" );
document.write( "/1.0264<BR>\n" );
document.write( "x=1500/1.0264<BR>\n" );
document.write( "=$1461 is what you can borrow<BR>\n" );
document.write( "...<BR>\n" );
document.write( "m.ananth@hotmail.ca </SPAN>\n" );
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