document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=561627>Question 561627</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I put $10000.00 in the bank. In 12 years the principle and interest is $16000.00. What is the simple interest rate.\r<BR>\n" );
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document.write( "I am sure the answer is 5.5% but I do not know how to get it through the correct formula. <BR>\n" );
document.write( "Thank you for your help </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #364330 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16949)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mananth><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=mananth><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=364330\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> P=10000<BR>\n" );
document.write( "Interest = 6000<BR>\n" );
document.write( "n= number of years = 12\r<BR>\n" );
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document.write( "I= p*r*n<BR>\n" );
document.write( "6000= 10000*r*12\r<BR>\n" );
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document.write( "6000/(10000*12)=r\r<BR>\n" );
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document.write( "6000/120000=r<BR>\n" );
document.write( "6/120\r<BR>\n" );
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document.write( "=0.05\r<BR>\n" );
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document.write( "0.05 * 100 = 5%<BR>\n" );
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