document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=86345>Question 86345</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Business and finance.  Paul invested $5000 in a time deposit.  What interest will he earn for 1 year if the interest rate is 6.5%?  Identify the rate, base, and amount in this problem.   </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #62451 by </B><A HREF=/tutors/aboutme.mpl?userid=chitra><B>chitra(359)</B></A><img src=\"/images/stars/stars-10.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=chitra><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=62451\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> It is given that Paul invested $5000 for one year at the rate of 6.5% \r<BR>\n" );
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document.write( "So here, \r<BR>\n" );
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document.write( "Amount = $5000\r<BR>\n" );
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document.write( "Rate = 6.5 %  = 0.065 \r<BR>\n" );
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document.write( "Time = 1 yr \r<BR>\n" );
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document.write( "So, to calculate the interest, we use the formula for Simple Interest(SI). \r<BR>\n" );
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document.write( "SI = (P * T * R)/100 \r<BR>\n" );
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document.write( "SI = (5000 * 1 * 6.5)/ 100 \r<BR>\n" );
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document.write( "SI = (5000 * 1 * 0.065)\r<BR>\n" );
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document.write( "SI = 325.0 \r<BR>\n" );
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document.write( "==> SI =  $ 325 \r<BR>\n" );
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document.write( "This shows that he earned an interest of $ 325 in a span of one year for the amount $5000 he deposited at the rate of 6.5 % \r<BR>\n" );
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document.write( "Hence, the solution. \r<BR>\n" );
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document.write( "Regards\r<BR>\n" );
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document.write( " </SPAN>\n" );
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