document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=60970>Question 60970</A>: <I><SPAN STYLE=\"word-break: break-all;\"> To whom may it concern,\r<BR>\n" );
document.write( "\n" );
document.write( "I have trouble to get the answer for the follwoinh questions.\r<BR>\n" );
document.write( "\n" );
document.write( "A bank charges 2.25% per month simple interest on personal loan.  If John borrows $6400 for a period of 2 years and 1 month, find the total interest he has to pay.\r<BR>\n" );
document.write( "\n" );
document.write( "Please help. Thank you very much.\r<BR>\n" );
document.write( "\n" );
document.write( "CH Lam </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #42010 by </B><A HREF=/tutors/aboutme.mpl?userid=uma><B>uma(370)</B></A><img src=\"/images/stars/stars-10.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=uma><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=42010\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Amount borrowed = $ 6400<BR>\n" );
document.write( "Interest rate = 2.25%<BR>\n" );
document.write( "              = 0.0225\r<BR>\n" );
document.write( "\n" );
document.write( "Period = 2 yrs 1 mon<BR>\n" );
document.write( "       = 2 1/12 yr[1 month = 1/12 yr]<BR>\n" );
document.write( "       = 25/12\r<BR>\n" );
document.write( "\n" );
document.write( "Interest = PTR<BR>\n" );
document.write( "         = 6400 * 25/12 * 0.0225<BR>\n" );
document.write( "         = 300\r<BR>\n" );
document.write( "\n" );
document.write( "Thus th3e interest = $300\r<BR>\n" );
document.write( "\n" );
document.write( "Good Luck!!! </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );