Answer:
$73.41
Step-by-step explanation:
The formula for figuring the payment A on principal P compounded n times per year at rate r for t years is ...
... A = P(r/n)/(1 -(1 +r/n)^(-nt))
... A = 3300·(.12/12)/(1 -(1 +.12/12)^(-12·5))
... = 33/(1 - 1.01^-60)
... ≈ 73.41
The monthly payment needed is $73.41.
