document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1105287>Question 1105287</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A business borrowed $2,400 at 7% simple interest per year to buy new tables.  If it paid $420 interest, what was the duration 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 #720071 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=720071\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A business borrowed $2,400 at 7% simple interest per year to buy new tables. If it paid $420 interest, what was the duration of the loan?<BR>\n" );
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document.write( "I = P*r*t<BR>\n" );
document.write( "420 = 2400*0.07*t<BR>\n" );
document.write( "t = 420/(2400*0.07)<BR>\n" );
document.write( "t = 2.5 years<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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