document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=473385>Question 473385</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Find the amount of interest and the monthly payment for the loan $3,400 at 12%<BR>\n" );
document.write( " add-on interest for 2 years.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #324777 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=324777\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 12% per year compounded monthly results in 1% per month (12/12 = 1).<BR>\n" );
document.write( "the loan amount is 3400.<BR>\n" );
document.write( "the period of the loan is 24 months.<BR>\n" );
document.write( "the monthly payment is 160.0498056<BR>\n" );
document.write( "over the 24 month period of the loan, you will have made a total payments of 24 * 160.0498056 = 3841.195333.<BR>\n" );
document.write( "the interest you paid on the loan is 3841.195333 - 3400 = 441.195333.<BR>\n" );
document.write( "i used a financial calculator to provide your answer.<BR>\n" );
document.write( "i'm not sure what you're using.<BR>\n" );
document.write( "let me know if this is enough for what you need to know or you need more details on how it was done.<BR>\n" );
document.write( "let me know what tools you have available to you so i can tailor the answer to that.<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );