document.write( "Question 1107904: You are borrowing $7400 to buy a car. If you pay the loan off in 3 years (36 months), estimate your monthly payment by ignoring interest and rounding down the amount owed. (Round your answer to the nearest cent.) \n" ); document.write( "
Algebra.Com's Answer #722984 by Boreal(15235) You can put this solution on YOUR website! Ignoring interest and rounding down, 7200/36=$200 a month. The actual monthly payment will be more, but this is a decent estimate (and indeed, the author once did that to show that the monthly payment was far too high, saving himself $750 a year in charges). \n" ); document.write( " |