document.write( "Question 1151750: A savings account of $3500 is left for 9 months and draws simple interest at a rate of 7%. How much interest is earned? What is the balance in the account at the end of the 9 months? \n" ); document.write( "
Algebra.Com's Answer #773573 by MathLover1(20850)\"\" \"About 
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\n" ); document.write( "\n" ); document.write( "use equation:\r
\n" ); document.write( "\n" ); document.write( " \"A+=+P%281+%2B+rt%29\" where \"P\" savings amount and \"r\"% is rate of interest per year, and \"t\" is number of years\r
\n" ); document.write( "\n" ); document.write( "given:\"R=7+\"%\r
\n" ); document.write( "\n" ); document.write( " First, converting \"R+\"percent to \"r\" a decimal:
\n" ); document.write( "\"r+=+R%2F100+=+7%2F100+=+0.07\" per year.\r
\n" ); document.write( "\n" ); document.write( "Putting time into years for simplicity,
\n" ); document.write( "\"%289+%2F+12%29months+=+0.75+years\"\r
\n" ); document.write( "\n" ); document.write( "Solving our equation:\r
\n" ); document.write( "\n" ); document.write( "\"A+=+3500%281+%2B+%280.07+%2A+0.75%29%29\" \r
\n" ); document.write( "\n" ); document.write( "\"A\" = $\"3683.75\"\r
\n" ); document.write( "\n" ); document.write( "The total amount accrued, principal plus interest, from simple interest on a principal of $\"3500.00\" at a rate of \"7\"% per year for \"0.75\" years (\"9\" months) is $\"3683.75\".\r
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