document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1111447>Question 1111447</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Sam plans to buy a car for R125 000. He pays a 15% deposit and manages to secure a bank loan for the<BR>\n" );
document.write( "outstanding amount. The bank charges 12,5% per annum, compounded monthly. Determine what Sam’s<BR>\n" );
document.write( "minimum monthly payment will be if the loan has to be repaid in six years’ time.<BR>\n" );
document.write( "[1] R998,17<BR>\n" );
document.write( "[2] R2 104,94<BR>\n" );
document.write( "[3] R2 476,40<BR>\n" );
document.write( "[4] R1 476,69\r<BR>\n" );
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document.write( "please pin point the method l can use to get to the right answer. thank you in advance \r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #726474 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=726474\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Principal=m(1+(r/n)^n*6-1)divided by (r/n)<BR>\n" );
document.write( "106250*(r/n) clears the denominator on the right<BR>\n" );
document.write( "1106.77=m(1+(r/n)^72-1)=m(1.1088) round at end<BR>\n" );
document.write( "1106.77/1.108=998.17<BR>\n" );
document.write( "[1] </SPAN>\n" );
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