document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=835509>Question 835509</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If a loan of $30,000 had a simple rate of 3.5% and there was $10,500 in terest how long did it take to repay the loan? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #503573 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=503573\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> simple interest equation is:<BR>\n" );
document.write( "30,000 * .035 * x = 10,500<BR>\n" );
document.write( "divide both sides of this equation by (30,000 * .035) to get:<BR>\n" );
document.write( "x = 10,500 / (30,000 * .035)<BR>\n" );
document.write( "simplify to get:<BR>\n" );
document.write( "x = 10<BR>\n" );
document.write( "it would take 10 years.<BR>\n" );
document.write( "principal is equal to 30,000<BR>\n" );
document.write( "interest is equal to .035 * 30,000 which is equal to 1050 per year.<BR>\n" );
document.write( "10 * 1050 is equal to 10500<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );