document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1030337>Question 1030337</A>: <I><SPAN STYLE=\"word-break: break-all;\"> An amount of $39,000 is borrowed for 6 years at 7.75% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back? <BR>\n" );
document.write( " Use the calculator provided and round your answer to the nearest dollar.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #645249 by </B><A HREF=/tutors/aboutme.mpl?userid=Cromlix><B>Cromlix(4381)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Cromlix><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=Cromlix><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=645249\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Hi there,<BR>\n" );
document.write( "100% + 7.75% = 107.75%<BR>\n" );
document.write( "107.75% = 107.75/100 = 1.0775 (factor)<BR>\n" );
document.write( "$39,000 x 1.0775^6 = $61033.5<BR>\n" );
document.write( "Nearest dollar = $61,034<BR>\n" );
document.write( "Hope this helps :-) </SPAN>\n" );
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