document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=528211>Question 528211</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You obtain a loan of $3,000 based on simple interest with an annual interest rate of 12 percent. At the end of the first month, the interest owed on $3,000 is<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 #349185 by </B><A HREF=/tutors/aboutme.mpl?userid=Maths68><B>Maths68(1474)</B></A><img src=\"/images/stars/stars-12.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Maths68><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=Maths68><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=349185\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Amount = $3000<BR>\n" );
document.write( "Interest rate per year or 12 months= 12%\r<BR>\n" );
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document.write( "Interest for first month = (3000*12%)/12<BR>\n" );
document.write( "Interest for first month = (3000*0.12)/12<BR>\n" );
document.write( "Interest for first month = (3000*0.12)/12<BR>\n" );
document.write( "Interest for first month = 360/12<BR>\n" );
document.write( "Interest for first month = $30<BR>\n" );
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