document.write( "Question 1105709: A loan yielded $60 per year simple interest. If the rate of interest increased by 0.5% the simple interest is $70. What is the amount of loan? \n" ); document.write( "

Algebra.Com's Answer #720619 by ikleyn(52778) $\"\"$ $\"About$

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document.write( "Increasing the interest rate by 0.5% leads to increasing the simple interest from $60 to $70:\r\n" );
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document.write( "0.005*X = 70-60 = 10 dollars.\r\n" );
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document.write( "It means that the amount of the loan X is  X =  = 2000 dollars.\r\n" );
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