document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=72392>Question 72392</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I submitted this problem quite a few days ago and did not get a response. I am resubmitting in hopes to get some help.<BR>\n" );
document.write( "Solve the following application.<BR>\n" );
document.write( "Business and finance. Ms. Jordan has been given a loan of $2500 for 1 year. If the interest charged is $275, what is the interest rate on the loan?<BR>\n" );
document.write( "This is what I have so far.<BR>\n" );
document.write( "loan=$2500<BR>\n" );
document.write( "interest=$275<BR>\n" );
document.write( "interest rate=x </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #51734 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=51734\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Ms. Jordan has been given a loan of $2500 for 1 year. If the interest charged is $275, what is the interest rate on the loan?<BR>\n" );
document.write( "--------<BR>\n" );
document.write( "Interest = P*r*t<BR>\n" );
document.write( "2Ms. Jordan has been given a loan of $2500 for 1 year. If the interest charged is $275, what is the interest rate on the loan?<BR>\n" );
document.write( "275 = 2500*r*1<BR>\n" );
document.write( "r = 275/2500<BR>\n" );
document.write( "r = 0.11<BR>\n" );
document.write( "r = 11%<BR>\n" );
document.write( "--------<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );