document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1195629>Question 1195629</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You want to buy a $189,000 home. You plan to pay 20% as a down payment, and take out a 30 year loan for the rest.\r<BR>\n" );
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document.write( "a) How much is the loan amount going to be?\r<BR>\n" );
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document.write( "b) What will your monthly payments be if the interest rate is 5%?\r<BR>\n" );
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document.write( "c) What will your monthly payments be if the interest rate is 6%?\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #828257 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=828257\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Down payment is $37,800<BR>\n" );
document.write( "Amount financed is the difference or $152,200<BR>\n" );
document.write( "at 5% the monthly interest is 0.05/12=0.004166667 round at end<BR>\n" );
document.write( "P*0.05/12 (1.004166667)^360/(1.004166667)^360 minus 1<BR>\n" );
document.write( "=$817.04<BR>\n" );
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document.write( "at 6%<BR>\n" );
document.write( "P(0.005)(1.005^360)/(1.005^360)- 1<BR>\n" );
document.write( "=$912.52 </SPAN>\n" );
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