document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1121607>Question 1121607</A>: <I><SPAN STYLE=\"word-break: break-all;\"> During a certain period, a manufacturing company invested some money in a bank at 40% simple interest per annum. Given that after 6 months, the total value of the investment was $840,00 calculate the amount invested.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #737551 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=737551\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> with simple interest, the formula used is:\r<BR>\n" );
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document.write( "i = p * r * n\r<BR>\n" );
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document.write( "i is the interest<BR>\n" );
document.write( "p is the principal<BR>\n" );
document.write( "r is the interest rate per time period<BR>\n" );
document.write( "n is the number of time periods\r<BR>\n" );
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document.write( "also:\r<BR>\n" );
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document.write( "f = p + i\r<BR>\n" );
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document.write( "f is the future value<BR>\n" );
document.write( "p is the principal<BR>\n" );
document.write( "i is the interest\r<BR>\n" );
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document.write( "in your problem.\r<BR>\n" );
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document.write( "r = 40% per year = .4 per year = .4/12 per month\r<BR>\n" );
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document.write( "n = 6 months\r<BR>\n" );
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document.write( "formula for i says i = p * r * n which becomes i = p * .4 / 12 * 6 which becomes i = p * .2.\r<BR>\n" );
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document.write( "f = p + i becomes f = p + p * .2.\r<BR>\n" );
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document.write( "since f = 840, this formula becomes 840 = p + p * .2 which becomes 840 = p * (1 + .2) which becomes 840 = p * 1.2.\r<BR>\n" );
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document.write( "divide both sides by 1.2 to get 840 / 1.2 = p = 700.\r<BR>\n" );
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document.write( "the principal amount is 700.\r<BR>\n" );
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document.write( "using p = 700 and r = .4/12 and n = 6, you get i = 700 * .4/12 * 6 = 140\r<BR>\n" );
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document.write( "f = p + i becomes f = 700 + 140 = 840.\r<BR>\n" );
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document.write( "numbers check out.\r<BR>\n" );
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document.write( "solution is that the amount invested is 700.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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