document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=897722>Question 897722</A>: <I><SPAN STYLE=\"word-break: break-all;\"> To start a mobile dog-grooming service, a woman borrowed $2000. If the loan was for 2 years and the amount of interest was $124, what simple interest rate was she charged? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #544255 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><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=544255\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Simple Interest\r<BR>\n" );
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document.write( "Interest = Principal*Rate*Time\r<BR>\n" );
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document.write( "I = P*r*t\r<BR>\n" );
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document.write( "124 = 2000*r*2\r<BR>\n" );
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document.write( "124 = 2000*2*r\r<BR>\n" );
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document.write( "124 = 4000*r\r<BR>\n" );
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document.write( "124/4000 = r\r<BR>\n" );
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document.write( "0.031 = r\r<BR>\n" );
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document.write( "r = 0.031\r<BR>\n" );
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document.write( "Convert 0.031 to a percentage: 0.031*100 = <font color=\"red\">3.1%</font>\r<BR>\n" );
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document.write( "The simple interest rate is <font color=\"red\">3.1%</font> </SPAN>\n" );
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