document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1166723>Question 1166723</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If $9,700 grows to $10,250 in 2 years, then find the simple interest rate earned. Round answer to nearest two decimal places. Use A=P+Prt\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #791228 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=791228\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> your formula is:<BR>\n" );
document.write( "A = p + p * r * t<BR>\n" );
document.write( "when A = 10250 and p = 9700 and t = 2, the formula becomes:<BR>\n" );
document.write( "10250 = 9700 + 9700 * r * 2<BR>\n" );
document.write( "subtract 9700 from both sides of the formula to get:<BR>\n" );
document.write( "550 = 9700 * r * 2 which becomes:<BR>\n" );
document.write( "solve for r to get:<BR>\n" );
document.write( "r = 550 / (9700 * 2) = .0283505155.<BR>\n" );
document.write( "that's your interest rate.<BR>\n" );
document.write( "replace r with that in the original equation and solve for A to get:<BR>\n" );
document.write( "A = 9700 + 9700 * .0283505155 * 2 = 10250.<BR>\n" );
document.write( "this confirms the solution is correct.<BR>\n" );
document.write( "your solution can be:<BR>\n" );
document.write( ".03 if rounded to two decimal places, or:<BR>\n" );
document.write( "2.84% if made into a percent and then rounded to 2 decimal places.<BR>\n" );
document.write( "note that rate percent is equal to rate * 100.\r<BR>\n" );
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