document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=486520>Question 486520</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If you owe $30,000 for a loan and your interest payment is $125 per month. What is the annual interest rate?\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #332579 by </B><A HREF=/tutors/aboutme.mpl?userid=MathTherapy><B>MathTherapy(10552)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=MathTherapy><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=MathTherapy><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=332579\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> If you owe $30,000 for a loan and your interest payment is $125 per month. What is the annual interest rate?\r<BR>\n" );
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document.write( "Since the interest is $125 per month, then amount of interest paid per year is: 125 * 12 months = $1,500 per year\r<BR>\n" );
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document.write( "Simple interest = PTR, where P = principal, T = time, and R = rate (interest)\r<BR>\n" );
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document.write( "1,500 = $30,000 * 1 * R\r<BR>\n" );
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document.write( "1,500 = 30,000R\r<BR>\n" );
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document.write( "R, or rate of interest = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1500%2F30000 ALIGN=MIDDLE  ALT=\"1500%2F30000\"   DISABLED_style= \"max-width:90%; height:auto;\" > = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1%2F20 ALIGN=MIDDLE  ALT=\"1%2F20\"   DISABLED_style= \"max-width:90%; height:auto;\" >, or .05, or <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=highlight_green%285%29 ALIGN=MIDDLE  ALT=\"highlight_green%285%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >%. </SPAN>\n" );
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