document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1131202>Question 1131202</A>: <I><SPAN STYLE=\"word-break: break-all;\"> can you please help me resolve this question?\r<BR>\n" );
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document.write( "Tiffany bought $3,000 of new furniture on credit. Because her credit score isn't very good, the store is charging her a fairly high interest rate of 17% to finance this purchase. If she agreed to pay off the furniture over 5 years, how much will she have to pay each month?<BR>\n" );
document.write( "Round your answer to the nearest cent.\r<BR>\n" );
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document.write( "$ </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #747837 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=747837\">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( "We'll use this formula<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P+=+%28r%2APV%29%2F%281-%281%2Br%29%5E%28-n%29%29 ALIGN=MIDDLE  ALT=\"P+=+%28r%2APV%29%2F%281-%281%2Br%29%5E%28-n%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "Consult <a  rel=nofollow HREF=\"http://financeformulas.net/Loan_Payment_Formula.html\">this page</a> for more info<BR>\n" );
document.write( "P = payment<BR>\n" );
document.write( "PV = present value = loan amount<BR>\n" );
document.write( "r = rate per period (in decimal form)<BR>\n" );
document.write( "n = number of periods\r<BR>\n" );
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document.write( "In this case,<BR>\n" );
document.write( "P = unknown (what we want to find out)<BR>\n" );
document.write( "PV = 3000 is the loan amount<BR>\n" );
document.write( "r = 0.17/12 = 0.01416666666667 is the decimal form of the interest rate per month<BR>\n" );
document.write( "n = 5*12 = 60 months is the number of payment periods\r<BR>\n" );
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document.write( "Plug all of this into the formula and evaluate\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P+=+%28r%2APV%29%2F%281-%281%2Br%29%5E%28-n%29%29 ALIGN=MIDDLE  ALT=\"P+=+%28r%2APV%29%2F%281-%281%2Br%29%5E%28-n%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P+=+%280.01416666666667%2A3000%29%2F%281-%281%2B0.01416666666667%29%5E%28-60%29%29 ALIGN=MIDDLE  ALT=\"P+=+%280.01416666666667%2A3000%29%2F%281-%281%2B0.01416666666667%29%5E%28-60%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P+=+%280.01416666666667%2A3000%29%2F%281-%281.01416666666667%29%5E%28-60%29%29 ALIGN=MIDDLE  ALT=\"P+=+%280.01416666666667%2A3000%29%2F%281-%281.01416666666667%29%5E%28-60%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P+=+%280.01416666666667%2A3000%29%2F%281-0.429971895090039%29 ALIGN=MIDDLE  ALT=\"P+=+%280.01416666666667%2A3000%29%2F%281-0.429971895090039%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P+=+%280.01416666666667%2A3000%29%2F%280.570028104909961%29 ALIGN=MIDDLE  ALT=\"P+=+%280.01416666666667%2A3000%29%2F%280.570028104909961%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P+=+%2842.50000000001%29%2F%280.570028104909961%29 ALIGN=MIDDLE  ALT=\"P+=+%2842.50000000001%29%2F%280.570028104909961%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P+=+74.5577273013988 ALIGN=MIDDLE  ALT=\"P+=+74.5577273013988\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P+=+74.56 ALIGN=MIDDLE  ALT=\"P+=+74.56\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "The monthly payment is $74.56<BR>\n" );
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