document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1013116>Question 1013116</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Tina borrowed some money at 6% simple interest and paid it back exactly seven years later by making a single payment of $4544.  How much did she borrow in the first place? \r<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 #629283 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=629283\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> P=Po(1+r/t)^nt; P=the final amount; Po=initial amount.  Simple interest is simply 1+ the rate.  That number is raised to the number of years, here 7.<BR>\n" );
document.write( "P=Po(1.06)^7<BR>\n" );
document.write( "P=4544<BR>\n" );
document.write( "4544=Po(1.06)^7; 1.06^7=1.5036. Without rounding, divide both sides by this number.<BR>\n" );
document.write( "$3022.02.<BR>\n" );
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