document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1116952>Question 1116952</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You can afford a monthly mortgage payment of $1,650 and can get a 15-year 5.625% loan.  What is the maximum loan you can get so your payment does not exceed $1,650?   </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #731903 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><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=731903\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <font color=\"black\" face=\"times\" size=\"3\"><BR>\n" );
document.write( "The formula to compute the monthly payment is <BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P+=+L%2A%28c%281%2Bc%29%5En%29%2F%28%281%2Bc%29%5En-1%29 ALIGN=MIDDLE  ALT=\"P+=+L%2A%28c%281%2Bc%29%5En%29%2F%28%281%2Bc%29%5En-1%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "where,<BR>\n" );
document.write( "L = loan amount<BR>\n" );
document.write( "P = monthly payment<BR>\n" );
document.write( "c = interest rate per period<BR>\n" );
document.write( "n = number of periods\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "In this case,<BR>\n" );
document.write( "L = unknown<BR>\n" );
document.write( "P = 1650<BR>\n" );
document.write( "c =  r/12 = 0.05625/12 = 0.0046875<BR>\n" );
document.write( "n = 12*y = 12*15 = 180 months\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Plug in the given info. Then solve for L<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P+=+L%2A%28c%281%2Bc%29%5En%29%2F%28%281%2Bc%29%5En-1%29 ALIGN=MIDDLE  ALT=\"P+=+L%2A%28c%281%2Bc%29%5En%29%2F%28%281%2Bc%29%5En-1%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1650+=+L%2A%280.0046875%281%2B0.0046875%29%5E180%29%2F%28%281%2B0.0046875%29%5E180-1%29 ALIGN=MIDDLE  ALT=\"1650+=+L%2A%280.0046875%281%2B0.0046875%29%5E180%29%2F%28%281%2B0.0046875%29%5E180-1%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1650+=+L%2A%280.0046875%281.0046875%29%5E180%29%2F%28%281.0046875%29%5E180-1%29 ALIGN=MIDDLE  ALT=\"1650+=+L%2A%280.0046875%281.0046875%29%5E180%29%2F%28%281.0046875%29%5E180-1%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1650+=+L%2A%280.0046875%2A2.32049057740442%29%2F%282.32049057740442-1%29 ALIGN=MIDDLE  ALT=\"1650+=+L%2A%280.0046875%2A2.32049057740442%29%2F%282.32049057740442-1%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1650+=+L%2A%280.01087729958159%29%2F%281.32049057740442%29 ALIGN=MIDDLE  ALT=\"1650+=+L%2A%280.01087729958159%29%2F%281.32049057740442%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1650+=+L%2A0.00823731707572 ALIGN=MIDDLE  ALT=\"1650+=+L%2A0.00823731707572\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281650%29%2F%280.00823731707572%29+=+%28L%2A0.00823731707572%29%2F%280.00823731707572%29 ALIGN=MIDDLE  ALT=\"%281650%29%2F%280.00823731707572%29+=+%28L%2A0.00823731707572%29%2F%280.00823731707572%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=200307.938231912+=+L ALIGN=MIDDLE  ALT=\"200307.938231912+=+L\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=L+=+200307.938231912 ALIGN=MIDDLE  ALT=\"L+=+200307.938231912\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "Round to the nearest dollar to get L = 200308. This is the max L can be so that P does not exceed 1650 If L = 200308, then P = 1650.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Final Answer: <font color=red>200308 dollars</font><BR>\n" );
document.write( "</font> </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );