document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=597924>Question 597924</A>: <I><SPAN STYLE=\"word-break: break-all;\"> In order ti start a small business, a student takes out a simple interest loan for $4000 for 9 months at a rate of 8.25%.<BR>\n" );
document.write( "a-) How much interest must the student pay?<BR>\n" );
document.write( "b-) Find the future value of the loan. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #378398 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=378398\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> FV = PV*(1+rt)\r<BR>\n" );
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document.write( "FV = 4000*(1+0.0825*(9/12))\r<BR>\n" );
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document.write( "FV = 4247.5\r<BR>\n" );
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document.write( "a)\r<BR>\n" );
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document.write( "The student must pay 4247.5 - 4000 = 247.50 dollars in interest\r<BR>\n" );
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document.write( "b)\r<BR>\n" );
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document.write( "The future value of the loan is 4247.50 dollars. </SPAN>\n" );
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