document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1130221>Question 1130221</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Use a model to determine the amount owed on a loan of $5,000 with simple interest of 4.25%. The model was A=5000+5000(0.0425t), where A is the amount (total principal plus interest) required to repay a loan, and t is the time, in years.\r<BR>\n" );
document.write( "\n" );
document.write( "What is the slope of this model? Include units in your answer.\r<BR>\n" );
document.write( "\n" );
document.write( "How long would it take for the loan amount to reach $7,000? Round to the nearest tenth. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #843705 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=843705\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Use a model to determine the amount owed on a loan of $5,000 with simple interest of 4.25%. The model was A=5000+5000(0.0425t), where A is the amount (total principal plus interest) required to repay a loan, and t is the time, in years.<BR>\n" );
document.write( "What is the slope of this model? Include units in your answer.<BR>\n" );
document.write( "How long would it take for the loan amount to reach $7,000? Round to the nearest tenth.\r<BR>\n" );
document.write( "\n" );
document.write( "A=5000+5000(0.0425t)\r<BR>\n" );
document.write( "\n" );
document.write( "A= 212.5t +5000\r<BR>\n" );
document.write( "\n" );
document.write( "compare with y=mx+c\r<BR>\n" );
document.write( "\n" );
document.write( "Slope = m= 212.5\r<BR>\n" );
document.write( "\n" );
document.write( "A=7000\r<BR>\n" );
document.write( "\n" );
document.write( "A= 212.5t +5000\r<BR>\n" );
document.write( "\n" );
document.write( "7000 = 212.50t+5000\r<BR>\n" );
document.write( "\n" );
document.write( "2000/212.50=t\r<BR>\n" );
document.write( "\n" );
document.write( "t= 9.412   years </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );