document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=555618>Question 555618</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 	<BR>\n" );
document.write( "Jill Roger borrowed $16,000 to buy a new boat. Assuming an interest charge of $2,900 what will be her monthly payment if she takes 30 months to repay the loan (+interest). Assume the loan is repaid in equal payments. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #361860 by </B><A HREF=/tutors/aboutme.mpl?userid=mathstutor494><B>mathstutor494(120)</B></A><img src=\"/images/stars/stars-09.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mathstutor494><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=mathstutor494><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=361860\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Amount to be repaid including interest = 16,000+2,900 i.e. 18,900\r<BR>\n" );
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document.write( "Time/months to repay the loan (+interest) = 30\r<BR>\n" );
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document.write( "Hence equally monthly installment = 18,900/30\r<BR>\n" );
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document.write( "Ans  = $ 630  \r<BR>\n" );
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