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If you were to borrow $9,700 over five years at 0.12 compounded monthly, what would be your monthly payment??

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.

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If Monthly payment are at beginning (Annuity Due) Monthly Payment =... View the full answer

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