document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=459970>Question 459970</A>: <I><SPAN STYLE=\"word-break: break-all;\"> An education loan of $8400 for ten years is to be repaid in monthly installments of $122.50. What is the annual of this loan, computed as simple interest?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #315472 by </B><A HREF=/tutors/aboutme.mpl?userid=rfer><B>rfer(16322)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=rfer><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=315472\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 122.50*120=14700<BR>\n" );
document.write( "14700-8400=6300<BR>\n" );
document.write( "6300/12=525 per yr<BR>\n" );
document.write( "525/8400=0.0625<BR>\n" );
document.write( "=6.25% interest per yr </SPAN>\n" );
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