document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1121952>Question 1121952</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You have $4,500 on a credit card that charges a 17% interest rate. If you want to pay off the credit card in 3 years, how much will you need to pay each month (assuming you don't charge anything new to the card)?\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 #737976 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=737976\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> best estimate i can give you without actually knowing exactly how the banks charge interest would be 160.44 at the end of each month for 36 months.\r<BR>\n" );
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document.write( "this is based on the use of the following financial calculator that calculates the monthly payments on a loan of 4500 for 36 months at an interest rate of 17/12 per month.\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( "you make the following inputs.\r<BR>\n" );
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document.write( "present value = 4500<BR>\n" );
document.write( "future value = 0<BR>\n" );
document.write( "number of monthly time periods = 3 * 12 = 36<BR>\n" );
document.write( "interest rate percent per month = 17/12 = 1.416667<BR>\n" );
document.write( "paymenta are made at the end of each month.\r<BR>\n" );
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document.write( "click on pmt and the calculator tells you that the monthly payment are -160.44.\r<BR>\n" );
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document.write( "present value is positive because it's mo<imney you receive.<BR>\n" );
document.write( "payment is negative because it's money you pay out.\r<BR>\n" );
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document.write( "here's the result of my use of this calculator.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2018/082804.jpg\" alt=\"$$$\"> </SPAN>\n" );
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