If you were to borrow $9,700 over five years at 0.12 compounded monthly, what would be your monthly payment?? I need all the step shown for the problem. I know that answer is 213.63, but I can't figure out how to arrive to the monthly payment of 213.63. I need this answered ASAP. Please help.
If Monthly payment are at beginning (Annuity Due) Monthly Payment =... View the full answer