document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1120507>Question 1120507</A>: <I><SPAN STYLE=\"word-break: break-all;\"> what is the monthly  payment on a 25 year loan of 85,500 if the annual interest rate is 10%\r<BR>\n" );
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document.write( "a. $807.97<BR>\n" );
document.write( "b.$777.20<BR>\n" );
document.write( "c.$746.42<BR>\n" );
document.write( "d.$854.15 </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #736175 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=736175\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> use the following online financial calculator.\r<BR>\n" );
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document.write( "<a  rel=nofollow HREF= \"https://arachnoid.com/finance/\" target = \"_blank\">https://arachnoid.com/finance/</a>\r<BR>\n" );
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document.write( "inputs are:\r<BR>\n" );
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document.write( "present value = 25000<BR>\n" );
document.write( "future value = 0<BR>\n" );
document.write( "number of time periods = 25 years * 12 months per year = 300 months.<BR>\n" );
document.write( "interest rate per time period = 10% per year / 12 = .8333333.....% per month.<BR>\n" );
document.write( "the calculator rounds to 6 decimal digits.<BR>\n" );
document.write( "just make sure you enter at least 7 to allow it to do so.<BR>\n" );
document.write( "payment is made at the end of each time period.\r<BR>\n" );
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document.write( "click on PMT and the calculator tells you that the payment at the end of each monthly time period is equal to 776.94.<BR>\n" );
document.write( "it is shown as negative since this is money going out, while the present value is money coming in.<BR>\n" );
document.write( "if you had shown the present value as negative, then the payment would have shown as positive.\r<BR>\n" );
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document.write( "here's a display of the results of using this calculator.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2018/072702.jpg\" alt=\"$$$\" >\r<BR>\n" );
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document.write( "i confirmed with the TI-BA-II financial calculator that this is accurate.\r<BR>\n" );
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document.write( "financial formulas that can be used manually can be found in the following reference.\r<BR>\n" );
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document.write( "<a  rel=nofollow HREF= \"https://www.algebra.com/algebra/homework/Finance/THEO-2016-04-29.lesson#notes\" target = \"_blank\">https://www.algebra.com/algebra/homework/Finance/THEO-2016-04-29.lesson#notes</a>\r<BR>\n" );
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document.write( "your selections do not show 776.94 as the payment.\r<BR>\n" );
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document.write( "the closest one is 777.2.\r<BR>\n" );
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document.write( "since that's the closest, i would choose selection b.\r<BR>\n" );
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document.write( "i used three different calculators plus the manual formula and they all showed 776.94, so i don't know where the 777.2 comes from.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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