document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=577903>Question 577903</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If a business borrows $16,000 and repays $23,600 in 5 years, what is the simple interest rate?<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 #370376 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=370376\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A = P+Prt\r<BR>\n" );
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document.write( "23600 = 16000+16000r(5)\r<BR>\n" );
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document.write( "23600 = 16000+80000r\r<BR>\n" );
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document.write( "23600 - 16000 = 80000r\r<BR>\n" );
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document.write( "7600 = 80000r\r<BR>\n" );
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document.write( "7600/80000 = r\r<BR>\n" );
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document.write( "0.095 = r\r<BR>\n" );
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document.write( "r = 0.095\r<BR>\n" );
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document.write( "So the simple interest rate is 9.5% </SPAN>\n" );
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