document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1208253>Question 1208253</A>: <I><SPAN STYLE=\"word-break: break-all;\"> What was the interest rate if your balance on an investment of ₱27,750 at the end of six years is ₱41,070? </SPAN>\n" );
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document.write( "I'll assume you are using simple interest (instead of compound interest).<BR>\n" );
document.write( "A = P*(1 + r*t)<BR>\n" );
document.write( "41070 = 27750*(1 + r*6)<BR>\n" );
document.write( "6r+1 = 41070/27750<BR>\n" );
document.write( "6r+1 = 1.48<BR>\n" );
document.write( "6r = 1.48-1<BR>\n" );
document.write( "6r = 0.48<BR>\n" );
document.write( "r = 0.48/6<BR>\n" );
document.write( "r = 0.08<BR>\n" );
document.write( "The simple interest rate is <font color=red>8%</font>\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Check:<BR>\n" );
document.write( "A = P*(1 + r*t)<BR>\n" );
document.write( "A = 27750*(1 + 0.08*6)<BR>\n" );
document.write( "A = 41070<BR>\n" );
document.write( "The answer is confirmed.<BR>\n" );
document.write( "</font> </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );