document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=466906>Question 466906</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Sharon invested money in a savings account at a rate of 6%simple interest. After 1 yr, she has $6996 in the account. How much did Sharon originally invest? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #320220 by </B><A HREF=/tutors/aboutme.mpl?userid=robertb><B>robertb(5830)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=robertb><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=robertb><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=320220\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Let P be the principal amount.\r<BR>\n" );
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document.write( "Then the interest is given by 6996 - P.\r<BR>\n" );
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document.write( "Hence 6996 - P =  P * r*t\r<BR>\n" );
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document.write( "==> 6996 - P = 0.06P\r<BR>\n" );
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document.write( "==> 6996 = 1.06P<BR>\n" );
document.write( "==> P = 6600 $. </SPAN>\n" );
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