document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=569359>Question 569359</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A car dealer will sell you a used car for $7,771 with $771 down and payments of $237.03 per month for 36 months.  What is the simple interest rate? (round each answer to the nearest).  the correct answer is 7.3%  My answer was 4.1%\r<BR>\n" );
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document.write( "I did the following:\r<BR>\n" );
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document.write( "$7,7771 - $771 =7000<BR>\n" );
document.write( "I=/$237.03(36) = 8533.08\r<BR>\n" );
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document.write( "7000(r)(3)= 21,000\r<BR>\n" );
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document.write( "8533.08/21000= 0.406\r<BR>\n" );
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document.write( "I want to see how they arrived at 7.3%  thanks. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #367297 by </B><A HREF=/tutors/aboutme.mpl?userid=solver91311><B>solver91311(24713)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=solver91311><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=solver91311><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=367297\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <font face=\"Times New Roman\" size=\"+2\">\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ 237.03\ \times\ 36\ =\ 8533.08\">\r<BR>\n" );
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document.write( "is the total of payments on an indebtedness of 7000, so the total interest paid was $1,533.08.  The total interest was paid over a period of 3 years, so the amount of interest paid per year is $511.03.  Simple interest rate is the interest paid per year divided by the total indebtedness.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ \frac{511.03}{7000}\ =\ 0.073\ =\ 7.3%\">\r<BR>\n" );
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document.write( "John<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE e^{i\pi} + 1 = 0\"><BR>\n" );
document.write( "My calculator said it, I believe it, that settles it<BR>\n" );
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