document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1178103>Question 1178103</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Job needs $2000.00 by September 1, 1996 to pay for his tuition. If He 7% simple interest per annum,how much should he invest on February 1, 1996 in other to accumulate the amount required?\r<BR>\n" );
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document.write( "Note: Show Principal, Rate and Time when solving  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #807335 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=807335\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> I=prt<BR>\n" );
document.write( "principal is x, unknown<BR>\n" );
document.write( "I=x*0.07*7/12, since it is 7 months<BR>\n" );
document.write( "=0.0408x<BR>\n" );
document.write( "that interest plus principal x=$2000<BR>\n" );
document.write( "x+0.0408x=2000=1.0408x<BR>\n" );
document.write( "x=$1921.53, which is the principal needed to deposit.<BR>\n" );
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