document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=881214>Question 881214</A>: <I><SPAN STYLE=\"word-break: break-all;\"> The total amount of interest that will be paid on a 5-year, $90,000 note payable at 11% simple annual interest is?<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #532099 by </B><A HREF=/tutors/aboutme.mpl?userid=JulietG><B>JulietG(1812)</B></A><img src=\"/images/stars/stars-12.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=JulietG><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=JulietG><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=532099\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> If the interest is compounded annually, then<BR>\n" );
document.write( "Year 1: 90000 * 1.11 = 99900<BR>\n" );
document.write( "Year 2: 99900 * 1.11 = 110889<BR>\n" );
document.write( "Year 3: 110889 * 1.11 = 123086.79<BR>\n" );
document.write( "Year 4: 123086.79 * 1.11 = 136626.33<BR>\n" );
document.write( "Year 5: 136626.33 * 1.11 = 151655.23<BR>\n" );
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document.write( "The principal is 90,000.  The interest is 61655.23<BR>\n" );
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document.write( "We multiply by 1.11 because 1.00 is the principal and .11 is the simple interest rate. </SPAN>\n" );
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