document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1182560>Question 1182560</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A loan of $15,280 was repaid at the end of 8 months. What size repayment check​ (principal and​ interest) was​ written, if an 11.7% annual rate of interest was​ charged?\r<BR>\n" );
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document.write( "Round to two decimal places. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #812669 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=812669\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Amount(A) = Principal(P) + Interest (I)\r<BR>\n" );
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document.write( "P= 15280<BR>\n" );
document.write( "rate (r) = 11.7% = 0.117<BR>\n" );
document.write( "Time = 8 months = (2/3) year\r<BR>\n" );
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document.write( "I = 15280 * 0.117 * (2/3)\r<BR>\n" );
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document.write( "=1191.84\r<BR>\n" );
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document.write( "Check to issued = $ 15,280 + $ 1191.84\r<BR>\n" );
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document.write( " </SPAN>\n" );
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