document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1090356>Question 1090356</A>: <I><SPAN STYLE=\"word-break: break-all;\">  owners of a marina bought 7 canoes to be used as rentals at a cost of &#8203;$400 per canoe. They borrowed 60% of the total cost for 11 months at 8 and one half % interest. Find the amount due using simple interest. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #704785 by </B><A HREF=/tutors/aboutme.mpl?userid=addingup><B>addingup(3677)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=addingup><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=addingup><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=704785\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 7 x 400 = 2800<BR>\n" );
document.write( "2800 x 0.60 = 1680 this is how much they borrowed<BR>\n" );
document.write( "1680 x ?<BR>\n" );
document.write( "You say they borrowed for 11 months at 8 1/2% interest. Interest is usually annual, per annum. Is it 8.5% for 11 months of 8.5%/year? If per year:<BR>\n" );
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document.write( "1680 x (0.085/12) x 11 = 1680 x 0.0071 x 11 = 131.21 this is how much interest they have to pay<BR>\n" );
document.write( "1680 + 131.21 = 1811.21 is the total </SPAN>\n" );
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