document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1037418>Question 1037418</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You need to borrow $20,000 to buy a car. You can only afford to make monthly payments of $200. The bank offers 3 choices: 3-year loan at 5%; 4- year loan at 6%, and a 5-year loan at 7%.<BR>\n" );
document.write( "a) What's the monthly payment for each loan?<BR>\n" );
document.write( "b) Which loan is best for your situation?<BR>\n" );
document.write( "c) What's the total amount you would pay over the term of each loan? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #654002 by </B><A HREF=/tutors/aboutme.mpl?userid=jorel555><B>jorel555(1290)</B></A><img src=\"/images/stars/stars-12.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jorel555><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=654002\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> a)20000/36=555.55x1.05=$583.33 monthly payment<BR>\n" );
document.write( "20000/48=416.67x1.06=$441.67 monthly payment<BR>\n" );
document.write( "20000/60=333.33x1.07=$356.67 monthly payment<BR>\n" );
document.write( "b) No loan is best for your situation, as you can only afford $200 for car payments!!!!<BR>\n" );
document.write( "c)583.33x36=$21000<BR>\n" );
document.write( "416.67x48=$21200<BR>\n" );
document.write( "356.67x60=$21400!!!!!!!!!!!!! </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );