document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1101445>Question 1101445</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Keisha takes out a loan for her college tuition from a bank that charges simple interest at an annual rate of 8.95%. Her loan is for 3500 for 11 months. assume each month is 1/12 of a year..\r<BR>\n" );
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document.write( "Find the interest that will be owed after 11 months \r<BR>\n" );
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document.write( "Assuming Keisha doesn’t make any payments,find the amount owed after11 months...\r<BR>\n" );
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document.write( "The part that has me baffled is assume each month is 1/12 of a year .... </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #716058 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=716058\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Keisha takes out a loan for her college tuition from a bank that charges simple interest at an annual rate of 8.95%. Her loan is for 3500 for 11 months. assume each month is 1/12 of a year.. <BR>\n" );
document.write( "Find the interest that will be owed after 11 months <BR>\n" );
document.write( "Assuming Keisha doesn’t make any payments,find the amount owed after11 months... <BR>\n" );
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document.write( "I = P*r*t<BR>\n" );
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document.write( "I = 3500*0.0895*(11/12) = $287.15<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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