document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1023053>Question 1023053</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If the simple interest of a loan is $2,640 after 6 years at an annual interest rate of 5.5%, find the principal of the loan. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #638754 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=638754\">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( "so that<BR>\n" );
document.write( "P = I/rt = $2640/(6)(.055) = $8000 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );