document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=33825>Question 33825</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 1. when the monthly finance charge is 1 1/4 percent what is the annual rate.<BR>\n" );
document.write( "do i take the percent amount and x it be 30 for the month\r<BR>\n" );
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document.write( "2. if you borrow $3.000 for 24 months to buy a car and pay $137.50 per month what is the finance charge.\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #20230 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=20230\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Multiply the monthly rate by 12 to get the annual rate.<BR>\n" );
document.write( "3000/24=$125<BR>\n" );
document.write( "You are paying an addition 137.50-125=$12.50 per month.<BR>\n" );
document.write( "The rate is 12.50/125= 10%<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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