document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1139125>Question 1139125</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A new university graduate determines that she can afford a car payment of R3 500 per month. If the car manufacturer is offering a special 2.1% p.a.financing rate, compounded monthly for 4 years, how much can she borrow and still have a R3 500 monthly payment? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #756899 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=756899\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> a financial calculator will help to solve this problem.\r<BR>\n" );
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document.write( "one such calculator can be found at <a  rel=nofollow HREF= \"https://arachnoid.com/finance/\" target = \"_blank\">https://arachnoid.com/finance/</a>\r<BR>\n" );
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document.write( "using this calculator, i have determined that the maximum loan that she can afford with<BR>\n" );
document.write( "a maximum payment of 3500 at the end of each month would be equal to 161,002.48.\r<BR>\n" );
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document.write( "apparently, R means indian rupee and there are currently 69.4 indian rupees to the dollar.\r<BR>\n" );
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document.write( "consequently, 161,002.48 indian rupees are equivalent to 2319.92 us dollars.\r<BR>\n" );
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document.write( "here's a display of the results i got using the referenced calculator.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2019/041502.jpg\" alt=\"$$$\" >\r<BR>\n" );
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document.write( "my inputs to the calculator were:\r<BR>\n" );
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document.write( "present value = 0<BR>\n" );
document.write( "future value = 0<BR>\n" );
document.write( "number of time periods = 4 years * 12 months per year = 48 months<BR>\n" );
document.write( "payment per month = 3500, shown as negative because it's money going out.<BR>\n" );
document.write( "percent interest rate per year = 2.1% / 12 = .175% per month.<BR>\n" );
document.write( "payments are made at the end of each month.\r<BR>\n" );
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document.write( "i then clicked on pv and the calculator told me that the present value of the loan is equal to 161,002.48, shown as positive because it's money coming in.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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