document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1181664>Question 1181664</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Three friends buy a second-hand equipment that costs PhP 120,000. They give a downpayment of PhP 40,000 and agree to settle the balance in 24 monthly payments. If the interest rate is 6% converted monthly, find the payments due at the end of each month. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #812603 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=812603\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> P=m(1-(1+(.06/12))^(-24))/(.06/12)<BR>\n" );
document.write( "80000=m(1-1.005^24)/0.005<BR>\n" );
document.write( "400=m(0.1128) round at end<BR>\n" );
document.write( "m=3545.65\r<BR>\n" );
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document.write( "general formula<BR>\n" );
document.write( "principal=monthly payment(1-(1+(r/n))^-nk/(r/n) </SPAN>\n" );
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