document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1121991>Question 1121991</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You can afford a $250 per month car payment. You've found a 6 year loan at 6% annual interest rate, compounded monthly. How big of a loan amount can you afford? (Enter numeric answers to 2 decimal places.) </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #738029 by </B><A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><B>ankor@dixie-net.com(22740)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><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=ankor@dixie-net.com><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=738029\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> You can afford a $250 per month car payment. You've found a 6 year loan at 6% annual interest rate, compounded monthly. How big of a loan amount can you afford? <BR>\n" );
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document.write( "The monthly payment formula: mp = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%28P%28%281%2B%28r%2Fn%29%29%5E%28nt%29%29%28r%2Fn%29%29%2F%28%281%2B%28r%2Fn%29%5E%28nt%29-1%29%29 ALIGN=MIDDLE   DISABLED_style= \"max-width:90%; height:auto;\" >: where:<BR>\n" );
document.write( "mp = monthly payment (250)<BR>\n" );
document.write( "P = amt of loan<BR>\n" );
document.write( "r = interest in decimal form (.06)<BR>\n" );
document.write( "n = periods per year (12)<BR>\n" );
document.write( "t = time in years (6)<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%28P%28%281%2B%28.06%2F12%29%29%5E%2812%2A6%29%29%28.06%2F12%29%29%2F%28%281%2B%28.06%2F12%29%5E%2812%2A6%29-1%29%29 ALIGN=MIDDLE   DISABLED_style= \"max-width:90%; height:auto;\" > = 250<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%28P%28%281.005%29%5E72%29%28.005%29%29%2F%28%281.005%29%5E72-1%29%29 ALIGN=MIDDLE  ALT=\"%28P%28%281.005%29%5E72%29%28.005%29%29%2F%28%281.005%29%5E72-1%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 250<BR>\n" );
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document.write( "P*<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281.432044+%2A+.005%29%2F%281.432044+-1%29 ALIGN=MIDDLE  ALT=\"%281.432044+%2A+.005%29%2F%281.432044+-1%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 250<BR>\n" );
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document.write( "P*<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=.00716%2F.432044 ALIGN=MIDDLE  ALT=\".00716%2F.432044\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 250<BR>\n" );
document.write( ".016573P = 250<BR>\n" );
document.write( "P = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=250%2F.016573 ALIGN=MIDDLE  ALT=\"250%2F.016573\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "P = $15,084.78<BR>\n" );
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document.write( "I checked this answer using the finance feature on the ti83, they got $15,084.88<BR>\n" );
document.write( "a 10 cent difference that I am not going to look for. CK<BR>\n" );
document.write( " </SPAN>\n" );
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