document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=618954>Question 618954</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Concerning SIMPLE INTEREST. I know that I(interest)=P(principal)X R(rate)X T(Time).<BR>\n" );
document.write( "How do I solve for P, if I have the rest, 2% for 3 years paid 1080 in interest, how much did I borrow? I cannot figure it out. Help please. Not the answer, just the formula.Thank you, Ted </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #389196 by </B><A HREF=/tutors/aboutme.mpl?userid=nerdybill><B>nerdybill(7384)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=nerdybill><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=nerdybill><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=389196\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> I(interest)=P(principal)X R(rate)X T(Time)<BR>\n" );
document.write( ".<BR>\n" );
document.write( "Or, I can write as:<BR>\n" );
document.write( "I = PRT<BR>\n" );
document.write( "Solving for P:<BR>\n" );
document.write( "start by dividing both sides by R:<BR>\n" );
document.write( "I/R = PT<BR>\n" );
document.write( "then, divide both sides by T:<BR>\n" );
document.write( "I/(RT) = P  (this is your equation)<BR>\n" );
document.write( ".<BR>\n" );
document.write( "So, given 2% for 3 years paid 1080 in interest<BR>\n" );
document.write( "P = I/(RT)<BR>\n" );
document.write( "P = 1080/(.02*3)<BR>\n" );
document.write( "P = 1080/(.06)<BR>\n" );
document.write( "P = $18,000 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );