document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1015633>Question 1015633</A>: <I><SPAN STYLE=\"word-break: break-all;\"> $8500.80 was the amount required to pay off a loan after 16 months.<BR>\n" );
document.write( " <BR>\n" );
document.write( "If the loan was at 7.80% per annum simple interest, how much of the total was interest? (Do not round your intermediate calculations and round the final answer to the nearest cent.)<BR>\n" );
document.write( "  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #631991 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=631991\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  $8500.80 was the amount required to pay off a loan after 16 months.\r<BR>\n" );
document.write( "\n" );
document.write( "If the loan was at 7.80% per annum simple interest, how much of the total was interest? (Do not round your intermediate calculations and round the final answer to the nearest cent.)<BR>\n" );
document.write( "----<BR>\n" );
document.write( "A(t) = P(1+rt)<BR>\n" );
document.write( "8500.80 = P(1+0.078(16/12))<BR>\n" );
document.write( "--------<BR>\n" );
document.write( "8500.80 = P(1.104)<BR>\n" );
document.write( "-----<BR>\n" );
document.write( "Ans: P = $81738.46<BR>\n" );
document.write( "------------<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "------------- </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );