document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=568281>Question 568281</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If a business borrows $15,000 and repays $21,300 in 4 years, 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 #366887 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=366887\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  If a business borrows $15,000 and repays $21,300 in 4 years, what is the simple interest rate?<BR>\n" );
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document.write( "A(t) = P(1+rt)<BR>\n" );
document.write( "21300 = 15000(1 + r*4)<BR>\n" );
document.write( "1.42 = 1 + 4r<BR>\n" );
document.write( "4r = 0.42<BR>\n" );
document.write( "r = 0.1050 = 10.5%<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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