document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1021694>Question 1021694</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Don Glover borrowed $13,000 for 250 days and paid $604.80 in simple interest on the loan. What annual simple interest rate did Don pay on the loan? (Round your answer to the nearest hundredth of a percent.) </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #637437 by </B><A HREF=/tutors/aboutme.mpl?userid=fractalier><B>fractalier(6550)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=fractalier><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=fractalier><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=637437\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Simple interest is found by<BR>\n" );
document.write( "I = Prt<BR>\n" );
document.write( "If we wish the rate, we can find it by<BR>\n" );
document.write( "r = I / Pt <BR>\n" );
document.write( "Here we have<BR>\n" );
document.write( "r = 604.80 / (13000)(250/365) = .068 = 6.8% </SPAN>\n" );
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