document.write( "Question 1167447: You can afford a $200 per month car payment. You've found a 5 year loan at 2% interest. How big of a loan can you afford? \n" ); document.write( "
Algebra.Com's Answer #792088 by Theo(13342)![]() ![]() You can put this solution on YOUR website! you can afford monthly payments at the end of each month of 200 dollars. \n" ); document.write( "the loan is for 5 years. \n" ); document.write( "the interest rate is 2%.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "you can use a formula to solve this, or you can use a financial calculator.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "i prefer the use of a financial calculator.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "there is one online that you can use.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "it can be found at https://arachnoid.com/finance/index.html\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "here's what the inputs look like:\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " ![]() \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "here's what the output looks like.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " ![]() \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "your solution is that the amount of the loan you can afford is 11,410.47.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |