document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1193382>Question 1193382</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Mr Charles borrowed the sum of $10000 from a finance company for 6 years and 8% per annum at simple interest rate. The amount returned by him to the finance company is  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #825397 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=825397\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <font color=black size=3><BR>\n" );
document.write( "Use the simple interest formula<BR>\n" );
document.write( "i = P*r*t<BR>\n" );
document.write( "i = 10,000*0.08*6<BR>\n" );
document.write( "i = 4,800\r<BR>\n" );
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document.write( "Mr Charles has to pay $4,800 in simple interest.<BR>\n" );
document.write( "This is on top of the principal $10,000 he borrowed.\r<BR>\n" );
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document.write( "In total, he pays back 10,000+4,800 = <font color=red>$14,800</font>\r<BR>\n" );
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document.write( "Another slightly alternative formula to use is this:<BR>\n" );
document.write( "A = P*(1+r*t)<BR>\n" );
document.write( "A = 10,000*(1+0.08*6)<BR>\n" );
document.write( "A = <font color=red>14,800</font><BR>\n" );
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