document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1198388>Question 1198388</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Find the amount due if $700 is borrowed for 14 months at 18% simple interest.<BR>\n" );
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document.write( "Answer:  <font color=red>$847</font>\r<BR>\n" );
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document.write( "Work Shown:<BR>\n" );
document.write( "A = P*(1+r*t)<BR>\n" );
document.write( "A = 700*(1+0.18*14/12)<BR>\n" );
document.write( "A = <font color=red>847</font>\r<BR>\n" );
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document.write( "This is a slightly longer approach:<BR>\n" );
document.write( "i = P*r*t<BR>\n" );
document.write( "i = 700*0.18*14/12<BR>\n" );
document.write( "i = 147 dollars is the interest only<BR>\n" );
document.write( "A = P+i<BR>\n" );
document.write( "A = 700+147<BR>\n" );
document.write( "A = <font color=red>847</font> total due (principal + interest)\r<BR>\n" );
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document.write( "Pay careful attention to the fact that I used t = 14/12, and not t = 14, since t represents the time in years.<BR>\n" );
document.write( "14 months = 14/12 years = 1.1667 years approximately.<BR>\n" );
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