document.write( "Question 56732: A riding stable borrowed $1,000 at a cost of $15 interest. If the loan was made at 6% simple interest, the length of the loan was:
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\n" ); document.write( " a. 9 months
\n" ); document.write( " b. 90 days
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Algebra.Com's Answer #38505 by funmath(2933)\"\" \"About 
You can put this solution on YOUR website!
A riding stable borrowed $1,000 at a cost of $15 interest. If the loan was made at 6% simple interest, the length of the loan was:
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\n" ); document.write( " a. 9 months
\n" ); document.write( " b. 90 days
\n" ); document.write( " c. 25 days
\n" ); document.write( " d. 4 days
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\n" ); document.write( "\"highlight%28I=Prt%29\", where I = interest, P=principle(money borrowed in this case), r=rate, and t=time in years (they count a year as 360 days for some reason.)
\n" ); document.write( "\"I%2FPr=Prt%2FPr\"
\n" ); document.write( "\"I%2FPr=t\" I=15, P=1000, and r=6/100=.06
\n" ); document.write( "\"t=%2815%29%2F%281000%2A.06%29\"
\n" ); document.write( "\"t=15%2F60\"
\n" ); document.write( "\"t=1%2F4\"
\n" ); document.write( "1/4 of a year is \"t=%281%2F4%29%28360%29\"days
\n" ); document.write( "t=90 days (b)
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