document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1172001>Question 1172001</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Cassandra has a loan of $35,720. This loan has a simple interest rate of 4% per year. What is the amount of interest Cassandra will pay on this loan at the end of two years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #796938 by </B><A HREF=/tutors/aboutme.mpl?userid=math_tutor2020><B>math_tutor2020(3817)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=math_tutor2020><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=796938\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <font color=black size=3><BR>\n" );
document.write( "Simple Interest Formula<BR>\n" );
document.write( "i = P*r*t \r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "We have:<BR>\n" );
document.write( "i = unknown interest<BR>\n" );
document.write( "P = 35720 = loan amount (you can think of it like a deposit)<BR>\n" );
document.write( "r = 0.04 = decimal form of annual interest rate<BR>\n" );
document.write( "t = 2 = number of years\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "We then compute the following:<BR>\n" );
document.write( "i = P*r*t<BR>\n" );
document.write( "i = 35720*0.04*2<BR>\n" );
document.write( "i = 2857.60\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Answer:  $2,857.60<BR>\n" );
document.write( "</font> </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );