document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=763841>Question 763841</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Morty loaned Ferdie $2,500 for 1 year at 8%. At the end of the year, how much did Ferdie have to pay back ? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #465069 by </B><A HREF=/tutors/aboutme.mpl?userid=lenny460><B>lenny460(1073)</B></A><img src=\"/images/stars/stars-12.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=lenny460><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=lenny460><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=465069\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Morty loaned Ferdie $2,500 for 1 year at 8%. At the end of the year, how much did Ferdie have to pay back ?\r<BR>\n" );
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document.write( "Simple Interest Formula: Principal * Rate * Time\r<BR>\n" );
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document.write( "Principal = $2,500\r<BR>\n" );
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document.write( "Rate = 8% or 0.08\r<BR>\n" );
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document.write( "Time = 1\r<BR>\n" );
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document.write( "Therefore:\r<BR>\n" );
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document.write( "2,500 * 0.08 * 1 = 200\r<BR>\n" );
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document.write( "Therefore the Interest is $200.\r<BR>\n" );
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document.write( "Answer:\r<BR>\n" );
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document.write( "Ferdie paid back $2,500 + $200 = $2,700\r<BR>\n" );
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document.write( "Lennox Obuong<BR>\n" );
document.write( "Algebra Tutor<BR>\n" );
document.write( "Nairobi, Kenya<BR>\n" );
document.write( "Email: lennoxobuong@yahoo.com </SPAN>\n" );
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