document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=585645>Question 585645</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Okay so for a car project I have this problem and I need to find out how long it would take for me to pay for the car to pay less than 125% of what it is worth.- A=P(1+r/12)^t. A= amount of money total i paid for the car,P= amount of loan i needed) r= interest rate and t= length of loan(in months)\r<BR>\n" );
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document.write( "For my particular case, I have: A= 26641.12, P= 21000, r= .0349 (3.49%), and t= 48. I know I have to use logarithms to get T down to find the time, but I'm stuck </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #373478 by </B><A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><B>ankor@dixie-net.com(22740)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><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=ankor@dixie-net.com><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=373478\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A=P(1+r/12)^t.<BR>\n" );
document.write( " A= amount of money total i paid for the car,<BR>\n" );
document.write( " P= amount of loan i needed)<BR>\n" );
document.write( " r= interest rate and <BR>\n" );
document.write( " t= length of loan(in months)<BR>\n" );
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document.write( "For my particular case, I have: A= 26641.12, P= 21000, r= .0349 (3.49%), and t= 48.<BR>\n" );
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document.write( "you give t=48, but isn't that what we are trying to find here?<BR>\n" );
document.write( "And 1.25 * 21000 = 26250<BR>\n" );
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document.write( "21000[1+(.0349/12))^t] = 26250<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1.0029083%5Et ALIGN=MIDDLE  ALT=\"1.0029083%5Et\"   DISABLED_style= \"max-width:90%; height:auto;\" > = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=26250%2F21000 ALIGN=MIDDLE  ALT=\"26250%2F21000\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "Using common logs<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%28%281.0029083%5Et%29%29 ALIGN=MIDDLE  ALT=\"log%28%281.0029083%5Et%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%28%2826250%2F21000%29%29 ALIGN=MIDDLE  ALT=\"log%28%2826250%2F21000%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "The log equiv of exponents<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=t%2Alog%28%281.0029083%29%29 ALIGN=MIDDLE  ALT=\"t%2Alog%28%281.0029083%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%28%2826250%2F21000%29%29 ALIGN=MIDDLE  ALT=\"log%28%2826250%2F21000%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "find the logs<BR>\n" );
document.write( "t * .00126 = .09691<BR>\n" );
document.write( "t = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=.09691%2F.00126 ALIGN=MIDDLE  ALT=\".09691%2F.00126\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "t = 76.9, pay it off in 76 months to pay less that $26250<BR>\n" );
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document.write( "Check this, enter in you calc: 21000(1+(.0349/12))^76 results: $26,186.26 is what you'll pay in 76 months<BR>\n" );
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