document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1132676>Question 1132676</A>: <I><SPAN STYLE=\"word-break: break-all;\"> In 7 years I want to buy a car which most likely will cost 40,000.00. The bank offers an APR of 4.5%. How much monthly deposits I will need to make to come up with 40,000.00? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #749778 by </B><A HREF=/tutors/aboutme.mpl?userid=jerryguo41><B>jerryguo41(197)</B></A><img src=\"/images/stars/stars-09.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jerryguo41><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=jerryguo41><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=749778\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> The monthly payment can be found by using the following formula:<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=M+=+%28P%281%2Br%29%5En%2Ar%29%2F%28%281%2Br%29%5En-1%29 ALIGN=MIDDLE  ALT=\"M+=+%28P%281%2Br%29%5En%2Ar%29%2F%28%281%2Br%29%5En-1%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "where<BR>\n" );
document.write( "  P  = Present Value (beginning value or amount of loan)<BR>\n" );
document.write( "  r   = Periodic Interest Rate = APR/ # of interest periods per year<BR>\n" );
document.write( "  M   = Monthly Payment<BR>\n" );
document.write( "  n   = # of interest periods for overall time period (i.e., interest<BR>\n" );
document.write( "        periods per year * number of years)\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Plugging in your values, you would get.<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r+=+0.045%2F12 ALIGN=MIDDLE  ALT=\"r+=+0.045%2F12\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r+=+0.00375 ALIGN=MIDDLE  ALT=\"r+=+0.00375\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
document.write( "\n" );
document.write( "PLuging in \"r\"<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=M+=+%28P%281%2Br%29%5En%2Ar%29%2F%28%281%2Br%29%5En-1%29 ALIGN=MIDDLE  ALT=\"M+=+%28P%281%2Br%29%5En%2Ar%29%2F%28%281%2Br%29%5En-1%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=M+=+%2840000%281%2B0.00375%29%5E84%2A%280.00375%29%29%2F%28%281%2B0.00375%29%5E84-1%29 ALIGN=MIDDLE  ALT=\"M+=+%2840000%281%2B0.00375%29%5E84%2A%280.00375%29%29%2F%28%281%2B0.00375%29%5E84-1%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=M+=+%28205.4178%29%2F%28%281%2B0.00375%29%5E84-1%29 ALIGN=MIDDLE  ALT=\"M+=+%28205.4178%29%2F%28%281%2B0.00375%29%5E84-1%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=M+=+%28205.4178%29%2F%28.3695%29 ALIGN=MIDDLE  ALT=\"M+=+%28205.4178%29%2F%28.3695%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=M+=+556.009 ALIGN=MIDDLE  ALT=\"M+=+556.009\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
document.write( "\n" );
document.write( "In Money:<BR>\n" );
document.write( "$556.01 per month for 84 months. You end up paying a total of $46,704.54 and pay $6,704.54 in interest.\r<BR>\n" );
document.write( "\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );