document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1155546>Question 1155546</A>: <I><SPAN STYLE=\"word-break: break-all;\"> matthew borrowed $24,000 dollars to buy a new truck. after 5 years,he paid $7,500 in simple interest. what was the interest rate on his truck loan? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #778146 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16946)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mananth><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=mananth><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=778146\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> SI = P * R * t <BR>\n" );
document.write( "P=24000 <BR>\n" );
document.write( "Interest = 7500 <BR>\n" );
document.write( "T = 5 years <BR>\n" );
document.write( "Plug values <BR>\n" );
document.write( "7500 = 24000*R/100 *5 <BR>\n" );
document.write( "750000/24000*5 =r\r<BR>\n" );
document.write( "\n" );
document.write( "rate = 6.25%  </SPAN>\n" );
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