document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1170406>Question 1170406</A>: <I><SPAN STYLE=\"word-break: break-all;\"> High interest rates make it difficult for<BR>\n" );
document.write( "people to pay off credit card debt in a reasonable period<BR>\n" );
document.write( "of time. The interest I (in dollars) paid on a $10,000 debt<BR>\n" );
document.write( "over 3 years when the interest rate is r% can be approximated<BR>\n" );
document.write( "by the equation\r<BR>\n" );
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document.write( "I/175.393 + 0.663 = r\r<BR>\n" );
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document.write( "(Source: Consumer Federation of America). If the credit<BR>\n" );
document.write( "card interest rate is 19.8%, find the amount of interest<BR>\n" );
document.write( "paid during the 3 years. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #851198 by </B><A HREF=/tutors/aboutme.mpl?userid=CPhill><B>CPhill(1959)</B></A><img src=\"/images/stars/stars-12.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=CPhill><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=CPhill><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=851198\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Let's solve the problem step-by-step.\r<BR>\n" );
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document.write( "**Given:**\r<BR>\n" );
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document.write( "* The equation relating interest paid (I) and interest rate (r):<BR>\n" );
document.write( "    * I / 175.393 + 0.663 = r<BR>\n" );
document.write( "* The credit card interest rate (r): 19.8%\r<BR>\n" );
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document.write( "**Goal:**\r<BR>\n" );
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document.write( "* Find the amount of interest paid (I) during the 3 years.\r<BR>\n" );
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document.write( "**Solution:**\r<BR>\n" );
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document.write( "1.  **Substitute the interest rate (r) into the equation:**<BR>\n" );
document.write( "    * I / 175.393 + 0.663 = 19.8\r<BR>\n" );
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document.write( "2.  **Isolate the term with I:**<BR>\n" );
document.write( "    * I / 175.393 = 19.8 - 0.663<BR>\n" );
document.write( "    * I / 175.393 = 19.137\r<BR>\n" );
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document.write( "3.  **Solve for I (interest paid):**<BR>\n" );
document.write( "    * I = 19.137 * 175.393<BR>\n" );
document.write( "    * I ≈ 3356.55\r<BR>\n" );
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document.write( "**Therefore, the amount of interest paid during the 3 years is approximately $3356.55.**<BR>\n" );
document.write( " </SPAN>\n" );
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