document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=676913>Question 676913</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Henry opened a savings account. Four years later, he had earned a total of $960 in simple interest. \r<BR>\n" );
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document.write( "If he made no additional deposits, and the annual interest rate was 6%, what was the initial principal? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #420968 by </B><A HREF=/tutors/aboutme.mpl?userid=partha_ban><B>partha_ban(41)</B></A><img src=\"/images/stars/stars-07.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=partha_ban><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=partha_ban><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=420968\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> We know I = Prt<BR>\n" );
document.write( "where I = Interest earned = 960<BR>\n" );
document.write( "P = Principal = ?<BR>\n" );
document.write( "r = rate of interest = 6% = 6/100<BR>\n" );
document.write( "t = time = 4<BR>\n" );
document.write( "So, <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=960+=+P%2A%286%2F100%29%2A4 ALIGN=MIDDLE  ALT=\"960+=+P%2A%286%2F100%29%2A4\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "24P/100 = 960<BR>\n" );
document.write( "24P = 960 * 100<BR>\n" );
document.write( "P = 960*100/24 = 4000<BR>\n" );
document.write( "Therefore the initial principal = $4,000 </SPAN>\n" );
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