document.write( "Question 1206588: Jessica borrowed $3300 from the bank in order to buy a new piano. She will pay if off by equal payments at the end of each week for 2 years. The interest rate is 8% compounded weekly. Determine the size of payments, and the total interest paid. \n" ); document.write( "
Algebra.Com's Answer #844148 by Theo(13342)\"\" \"About 
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i used the ti-business analyst 2 calculator to get the detailed results.\r
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\n" ); document.write( "\n" ); document.write( "inputs to that calculator were:\r
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\n" ); document.write( "\n" ); document.write( "present value = -3300
\n" ); document.write( "future value = 0
\n" ); document.write( "number of weeks is 2 years * 52 = 104.
\n" ); document.write( "interest rate % per week = 8/52 = .153846154%.
\n" ); document.write( "payments are made at the end of each week.\r
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\n" ); document.write( "\n" ); document.write( "calculator says that the payment at the end of each week needs to be 34.36124429 dollars.\r
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\n" ); document.write( "\n" ); document.write( "that's the size of the payment required at the end of each week.\r
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\n" ); document.write( "\n" ); document.write( "the total interest paid would be 104 * 34.36124429 = 3573.569406 minus 3300 = 273.5694063 dollars which you would round to 273.57 dollars.\r
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\n" ); document.write( "\n" ); document.write( "i used excel to provide these results.\r
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\n" ); document.write( "\n" ); document.write( "here's what it looks like.\r
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