document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1131689>Question 1131689</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Alice borrows $16,000 to buy a car. She pays 5.4% interest compounded monthly and the loan is for 2 years. Find the monthly payments. (Round your answer to two decimal places.)<BR>\n" );
document.write( "$  <BR>\n" );
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 #748690 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=748690\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Principal*(r/n)=Payment (1-(1+(r/n))^-nt<BR>\n" );
document.write( "16000*(.054/12)=payment(1-1+(.054/12))^24<BR>\n" );
document.write( "72=P*(0.10215) and do without rounding until the end.<BR>\n" );
document.write( "$704.81 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );