document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=560816>Question 560816</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 	If money is invested for a short period of time, simple interest is paid using the following formula.\r<BR>\n" );
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document.write( "I = Prt<BR>\n" );
document.write( "P represents the money invested, or principal amount, r is the simple interest rate, and t represents the time, in years, the money is invested.\r<BR>\n" );
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document.write( "Given P = $1,000, t = 9 years, and I = $270, what is the simple interest rate? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #364055 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><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=364055\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> I = Prt\r<BR>\n" );
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document.write( "270 = 1000*r*9\r<BR>\n" );
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document.write( "270 = 1000*9r\r<BR>\n" );
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document.write( "270 = 9000r\r<BR>\n" );
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document.write( "270/9000 = r\r<BR>\n" );
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document.write( "0.03 = r\r<BR>\n" );
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document.write( "r = 0.03\r<BR>\n" );
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document.write( "So the simple interest rate is 3%\r<BR>\n" );
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