document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=755134>Question 755134</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Money is borrowed at 8% interest. After one year, 1270.08 pays off the loan. How much was originally borrowed? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #459516 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=459516\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Money is borrowed at 8% interest. After one year, 1270.08 pays off the loan. How much was originally borrowed?<BR>\n" );
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document.write( "Assuming it was borrowed at simple interest:<BR>\n" );
document.write( "A(t) = P(1+rt)<BR>\n" );
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document.write( "1270.08 = P(1.08)<BR>\n" );
document.write( "P = $1176.00<BR>\n" );
document.write( "=================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "================= </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );