document.write( "Question 693846: How much simple interest would be paid on a loan of $2720 at 14% for 3 years? \n" ); document.write( "
Algebra.Com's Answer #427580 by MathLover1(20849)\"\" \"About 
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\n" ); document.write( "Simple interest is calculated on the original principal only.\r
\n" ); document.write( "\n" ); document.write( "\"Simple_+Interest+=+p+%2A+i+%2A+n\"\r
\n" ); document.write( "\n" ); document.write( "where:
\n" ); document.write( " \"p\" = principal (original amount borrowed or loaned)
\n" ); document.write( " \"i\" = interest rate for one period
\n" ); document.write( " \"n\" = number of periods \r
\n" ); document.write( "\n" ); document.write( "so, if you have a loan of $\"p=2720\" at \"i=14\"% annually for \"n=3\" years, you will pay:\r
\n" ); document.write( "\n" ); document.write( "$\"Simple_+Interest+=+p+%2A+i+%2A+n\"\r
\n" ); document.write( "\n" ); document.write( "$\"Simple_+Interest=2720%2814%2F100%29%2A3\"\r
\n" ); document.write( "\n" ); document.write( "$\"Simple_+Interest=2720%2A0.14%2A3\"\r
\n" ); document.write( "\n" ); document.write( "$\"Simple_+Interest=380.8%2A3\"\r
\n" ); document.write( "\n" ); document.write( "$\"Simple_+Interest=1142.4\"\r
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