document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=892761>Question 892761</A>: <I><SPAN STYLE=\"word-break: break-all;\"> hello, I need a bit of help figuring out this problem......this is my question may you please help, thank you.................\r<BR>\n" );
document.write( "\n" );
document.write( "Adam borrowed $1,200 for 18 months at  11.5% simple interest under an<BR>\n" );
document.write( "    add-on plan. What was his monthly payment? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #540801 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=540801\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> the add on interest method calculates the interest up front and then figures out the payments.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "your principal is 1200.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "18 months interest at 11.5% simple interest on 1200 would be 1200 * .115 * 18/12 = 207.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "you owe 1200 + 207 = 1407.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "divide that by 18 and you need to pay 78.166666.... per month for 18 months.<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );