document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1168513>Question 1168513</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Kent sold his car to Carolyn for $1,000 down and monthly payments of $120.03 at the end of every month for 3 1/2 years. The interest rate charged is 12%, compounded monthly. What was the selling price of the car?\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 #852005 by </B><A HREF=/tutors/aboutme.mpl?userid=ikleyn><B>ikleyn(52781)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ikleyn><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=ikleyn><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=852005\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .<BR>\n" );
document.write( "Kent sold his car to Carolyn for $1,000 down and monthly payments of $120.03 at the end of every month <BR>\n" );
document.write( "for 3 1/2 years. The interest rate charged is 12%, compounded monthly. What was the selling price of the car?<BR>\n" );
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document.write( "Calculations in the post by @CPhill are incorrect.\r<BR>\n" );
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document.write( "The correct values &nbsp;(the answers) &nbsp;are as follows:\r<BR>\n" );
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document.write( "Present value &nbsp;(the loan value) &nbsp;is &nbsp;$4100.\r<BR>\n" );
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document.write( "The selling price was &nbsp;$4100 + $1000 = $5100.\r<BR>\n" );
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