document.write( "Question 72241: Determining A simple interest rate
\n" ); document.write( "you borrow $2500 froma friend and promise to pay back $2655 in six months. What simple interest rate will you pay?
\n" ); document.write( "example:
\n" ); document.write( "2655=2500[1 + r(0.5)]
\n" ); document.write( "2655=2500 + 1250r
\n" ); document.write( "I don't know how they got 1250r (distributive property)
\n" ); document.write( "Please explain
\n" ); document.write( "Thank you
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Algebra.Com's Answer #51632 by rmromero(383)\"\" \"About 
You can put this solution on YOUR website!
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document.write( "you borrow $2500 froma friend and promise to pay back $2655 in six months.  What simple interest rate will you pay?\r\n" );
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document.write( "What is asked in the problem?\r\n" );
document.write( "  Simple interest \r\n" );
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document.write( "Given :\r\n" );
document.write( "   money borrowed $ 2500\r\n" );
document.write( "   Pay back is $2655\r\n" );
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document.write( "Representation\r\n" );
document.write( "  P = the money borrowed $2500\r\n" );
document.write( "  I = interest\r\n" );
document.write( "  R = rate\r\n" );
document.write( "  t = time\r\n" );
document.write( "  A = pay back\r\n" );
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document.write( "Equation:\r\n" );
document.write( "    A = P (1 + rt)\r\n" );
document.write( " 2655 = 2500[1 + r(0.5)]\r\n" );
document.write( " 2655 = 2500 + 1250r\r\n" );
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document.write( "You lack this part\r\n" );
document.write( " 2655 - 2500 = 1250r\r\n" );
document.write( "         155 = 1250r    divide both sides by 1250\r\n" );
document.write( "    155/1250 = 1250r/1250\r\n" );
document.write( "       0.124 = r\r\n" );
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document.write( "To change decimal to percent \r\n" );
document.write( "                0.124\r\n" );
document.write( "    0.124  =   ______     = 12.4%  --> answer\r\n" );
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document.write( "                 100\r\n" );
document.write( "check your answer if it is correct\r\n" );
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document.write( "Rachel\r\n" );
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