document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1033294>Question 1033294</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Assume you have a balance of $3200 that you want to pay off. The cred card APR is 21% and you want to pay it off the balance in 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 #647866 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=647866\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Assume you have a balance of $3200 that you want to pay off. The cred card APR is 21% and you want to pay it off the balance in 2 years. <BR>\n" );
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document.write( "Mortgage payment formuls:: c = [r*P]/[1-(1+r)^-N]<BR>\n" );
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document.write( "Your problem:<BR>\n" );
document.write( "c = [(0.21/12)*3200]/[1 -  (1.021)^(-24)<BR>\n" );
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document.write( "= 56/0.3927<BR>\n" );
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document.write( "= $142.60 per month for 24 months<BR>\n" );
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document.write( "cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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