document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1189706>Question 1189706</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Jorge buys a property on credit, having to pay it in 4 years, in the 1st year the monthly installments are US$ 660. In successive years the monthly installments suffer an increase of 3% in relation to with those of the previous year.  What is the approx.  of each monthly installment in the last year of payment?  a) $700<BR>\n" );
document.write( " b) 7215<BR>\n" );
document.write( " c) $743<BR>\n" );
document.write( " d) $765 </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #821158 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=821158\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> This is 660(1.03)^3=$721.20<BR>\n" );
document.write( "if  b is $721.5, that would be the best answer<BR>\n" );
document.write( "year 1 660<BR>\n" );
document.write( "year 2 660+(660*.03)=679.80<BR>\n" );
document.write( "year 3 679.80+(679.8*0.03)=700.19<BR>\n" );
document.write( "year 4 700.19+(700.19*0.03)=$721.20\r<BR>\n" );
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document.write( "This is a bit tricky in that the amount rises for only 3 years, because for the first full year the monthly installments were $660. Year 2 represents the first year of a higher rate; year 4 represents the third and last year of the higher rate.<BR>\n" );
document.write( " </SPAN>\n" );
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