document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=971992>Question 971992</A>: <I><SPAN STYLE=\"word-break: break-all;\"> What is the principal:<BR>\n" );
document.write( "Rate at 12%<BR>\n" );
document.write( "Time is 2 months<BR>\n" );
document.write( "Simple interest is $960 </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #594400 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=594400\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> your percent rate is assumed to be your annual percent rate.<BR>\n" );
document.write( "the monthly rate percent is 12% / 12 = 1 percent per month.<BR>\n" );
document.write( "the monthly rate is the percent divided by 100 = 1/100 = .01\r<BR>\n" );
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document.write( "your time is 2 months.\r<BR>\n" );
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document.write( "your simple interest is $960.\r<BR>\n" );
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document.write( "formula for simple interest is i = p * r * n\r<BR>\n" );
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document.write( "i is the interest<BR>\n" );
document.write( "p is the principal<BR>\n" );
document.write( "r is the interest rate per time period<BR>\n" );
document.write( "n is the number of time periods.\r<BR>\n" );
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document.write( "in your problem, you have:\r<BR>\n" );
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document.write( "i = 960<BR>\n" );
document.write( "p = what you want to find.<BR>\n" );
document.write( "r = .01 per month.<BR>\n" );
document.write( "n = 2 months\r<BR>\n" );
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document.write( "your formula becomes:\r<BR>\n" );
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document.write( "960 = p * .01 * 2\r<BR>\n" );
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document.write( "solve for p to get p = 960 / (.01 * 2) = 48,000\r<BR>\n" );
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document.write( "your principal is 48,000<BR>\n" );
document.write( "your interest rate is .01 per month.<BR>\n" );
document.write( "your number of months is 2<BR>\n" );
document.write( "your interest is 48,000 * .01 * 2 = 960\r<BR>\n" );
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document.write( " </SPAN>\n" );
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