document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=908718>Question 908718</A>: <I><SPAN STYLE=\"word-break: break-all;\"> OK THESE LAST THREE I KEEP GETTING WRONG HELP !!!\r<BR>\n" );
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document.write( "A home builder obtained a preconstruction loan of $60,000 for 3 months at an annual interest rate of 8.2%. What is the simple interest due on the loan\r<BR>\n" );
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document.write( "Find the simple interest Kara Tanamachi owes on a 1 1/2 year loan of $7200 at an annual interest rate of 6.8%\r<BR>\n" );
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document.write( "A credit union lends a member $6100 for college tuition. The loan is made for 18 months at an annual simple interest rate of 6.1%. What is the maturity value of this loan? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #551260 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=551260\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A home builder obtained a preconstruction loan of $60,000 for 3 months at an annual interest rate of 8.2%. What is the simple interest due on the loan<BR>\n" );
document.write( "Interest = Prt = 60,000*0.082*(1/4) = $1230<BR>\n" );
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document.write( "Find the simple interest Kara Tanamachi owes on a 1 1/2 year loan of $7200 at an annual interest rate of 6.8%<BR>\n" );
document.write( "interest = Prt = 7200*0.068*(3/2) = $734.40<BR>\n" );
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document.write( " A credit union lends a member $6100 for college tuition. The loan is made for 18 months at an annual simple interest rate of 6.1%. What is the maturity value of this loan?<BR>\n" );
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document.write( "A(t) = P(1+rt)<BR>\n" );
document.write( "A(1.5) = 6100(1+0.061*1.5) = $6658.15<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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