document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=886006>Question 886006</A>: <I><SPAN STYLE=\"word-break: break-all;\"> On January 1, Mustafa borrows $1000 on a demand loan from his bank. Interest is paid at the end of each quarter (March 31, June 30, September 30, December 31) and at the time of the last payment. Interest is calculated at the rate of 12% on the balance of the loan outstanding. Mustafa repaid the loan with the following payments:\r<BR>\n" );
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document.write( "March 1		$100<BR>\n" );
document.write( "April 17	$300<BR>\n" );
document.write( "July 12		$200<BR>\n" );
document.write( "August 20	$100<BR>\n" );
document.write( "October 18  	$300<BR>\n" );
document.write( "Total		$1000\r<BR>\n" );
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document.write( "Calculate the interest payments required and the total interest paid. <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 #535614 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=535614\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> your solution is shown below.<BR>\n" );
document.write( "look below that for comments.<BR>\n" );
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document.write( "rembal is the remaining balance after the interest has been accrued and the payment has been made.<BR>\n" );
document.write( "pmt is the payment<BR>\n" );
document.write( "int is the interest<BR>\n" );
document.write( "pmt+int is the total payment made which includes the principal plus the interest that is due.<BR>\n" );
document.write( "for example:<BR>\n" );
document.write( "march shows a remaining balance of 900.<BR>\n" );
document.write( "that remaining balance is equal to the 1000 in january plus interest of 120 that accrued from january to march minus payment of 220 made in march.<BR>\n" );
document.write( "the payment in march included the principal which was 100 and the interest due which was equal to 120.<BR>\n" );
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