document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=737209>Question 737209</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Julie borrows $60,000 from a bank that is charging eight percent interest, compounded annually.<BR>\n" );
document.write( "If she pays the loan back in eight years, approximately how much interest will she pay?<BR>\n" );
document.write( "	 a $39,840<BR>\n" );
document.write( "	 b $39,994<BR>\n" );
document.write( "	 c $42,120<BR>\n" );
document.write( "	 d $51,056 </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #450219 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><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=450219\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A = P(1+r/n)^(n*t)\r<BR>\n" );
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document.write( "A = 60000(1+0.08/1)^(1*8)\r<BR>\n" );
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document.write( "A = 111,055.812616912\r<BR>\n" );
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document.write( "A = 111,055.81\r<BR>\n" );
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document.write( "She pays back $111,055.81 total. So she pays 111,055.81 - 60,000 = <font color=\"red\">$51,055.81</font> in interest total.\r<BR>\n" );
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document.write( "The closest answer choice is <font color=\"red\">choice D</font> since it looks like they rounded to the nearest dollar. </SPAN>\n" );
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