document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1091438>Question 1091438</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Alice took out a simple interest loan to purchase carpet for her house. The interest on the loan<BR>\n" );
document.write( "was $1081.43. If the interest rate was 9.75% for 3 years, what was the price of the carpet?<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #705847 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=705847\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A=Ao(1.0975)^3<BR>\n" );
document.write( "A, the amount paid for everything, carpet and interest,= Ao+1081.43<BR>\n" );
document.write( "Therefore, Ao+1081.43=Ao(1.0975)^3=Ao*1.3219, but round at end.<BR>\n" );
document.write( "Ao=1.3219Ao-1081.43<BR>\n" );
document.write( "Ao-1.3219Ao=-1081.43<BR>\n" );
document.write( "-0.3219 Ao=-1081.43<BR>\n" );
document.write( "Ao=$3359.04.<BR>\n" );
document.write( "check<BR>\n" );
document.write( "3359.04(1.0975^3)=4440.47, which is $1081.43 interest.<BR>\n" );
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