document.write( "Question 1135818: A man took out a $46,000 construction loan to remodel a house. The loan rate is 8.5% simple interest per year to be repaid in six months. How much is paid back? \n" ); document.write( "
Algebra.Com's Answer #753499 by greenestamps(13200)![]() ![]() You can put this solution on YOUR website! \n" ); document.write( "I = prt \n" ); document.write( "i (interest) = p (principal) * r (annual rate) * t (number of years) \n" ); document.write( " \n" ); document.write( "Do that calculation. Then the amount to be paid back is the principal ($46,000) plus the interest. \n" ); document.write( " |