document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1099034>Question 1099034</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Loan term: 24, 36<BR>\n" );
document.write( "Annual interest rates: 8.5%<BR>\n" );
document.write( "Monthly payment: 24 months: 412.20<BR>\n" );
document.write( "36 months: 287.25\r<BR>\n" );
document.write( "\n" );
document.write( "How much Less total interest does Juan pay on the 24-month loan than on the 36-month loan </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #713451 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=713451\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> P=412.20*(1-(1+.085/12)^-24 divided by (.085/12)<BR>\n" );
document.write( "=$9068.17; do the calculations by starting with .085/12, adding it to 1, raising it to the -24 power subtracting that from 1, multiplying by 412.20 and dividing by (.085/12), rounding at the end.<BR>\n" );
document.write( "24*$412.20=$9892.80, so interest is $824.63<BR>\n" );
document.write( "====================<BR>\n" );
document.write( "for 36 change the exponent to -36<BR>\n" );
document.write( "=$9099.54<BR>\n" );
document.write( "36*$287.25=$10341. Interest is $1241.46<BR>\n" );
document.write( "Answer is he pays $416.83 less interest  </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );