document.write( "Question 1131199: hi, can you please help me find the answer for this question?
\n" ); document.write( "if you want to buy a car, and you can afford a monthly payment of $100, how large of a loan can you get at 3.15% interest over 30 months(2.5 years)?
\n" ); document.write( "Round your answer to the nearest dollar.\r
\n" ); document.write( "\n" ); document.write( "$
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Algebra.Com's Answer #747830 by ankor@dixie-net.com(22740)\"\" \"About 
You can put this solution on YOUR website!
you can afford a monthly payment of $100, how large of a loan can you get at 3.15% interest over 30 months(2.5 years)?
\n" ); document.write( ":
\n" ); document.write( "We can use the formula:
\n" ); document.write( " = 100
\n" ); document.write( "where
\n" ); document.write( "P = the amt borrowed
\n" ); document.write( "r = interest in decimal form .0315
\n" ); document.write( "n = no. of payments per year 12
\n" ); document.write( "t = no. of years 2.5
\n" ); document.write( ":
\n" ); document.write( " = 100
\n" ); document.write( ":
\n" ); document.write( "\"%28P%28%281.002625%29%5E30%29%28.002625%29%29%2F%28%281.002625%29%5E30-1%29\" = 100
\n" ); document.write( ":
\n" ); document.write( "\"%28P%281.0818%29%28.002625%29%29%2F%28%281.0818%29-1%29%29\" = 100
\n" ); document.write( ":
\n" ); document.write( "\"%28P%28.00284%29%29%2F.0818%29\"= 100
\n" ); document.write( ":
\n" ); document.write( ".0347P = 100
\n" ); document.write( "P = \"100%2F.0347\"
\n" ); document.write( "P = $2882 is the price of a car you can buy for $100 a month
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