document.write( "Question 1178835: Thomas Ewing borrowed $100 from a loan company for 12 months. He signed a note to repay the loan at $10 per month. How much interest did he have to pay? \n" ); document.write( "

Algebra.Com's Answer #808252 by ikleyn(52852) $\"\"$ $\"About$

You can put this solution on YOUR website!
.
\n" ); document.write( "Thomas Ewing borrowed $100 from a loan company for 12 months. He signed a note to repay the loan at $10 per month.
\n" ); document.write( "How much interest did he have to pay?
\n" ); document.write( "~~~~~~~~~~~~~~~~~~\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "

\r\n" );
document.write( "He loaned $100,  and payed back 10*12 = 120 dollars.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Everything happened in one year, so the interest is $20  and  the percentage is\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "     = 20%  per year.      ANSWER\r\n" );
document.write( "

\r
\n" ); document.write( "\n" ); document.write( "Solved.\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

\n" );