On April 1, Joseph Han purchased a car with a cash price of $50,000.He paid 25% ($12,500) down and agreed to pay the remainder in monthly payments...

On April 1, Joseph Han purchased a car with a cash price of $50,000.He paid 25% ($12,500) down and agreed to pay the remainder in monthly payments over ten years. The first payment on this $37,500 loan will be on May 1. The interest rate on the loan is 9% compounded monthly. What is the amount of each monthly payment?

 $193.78$475.03$3,375.11$5,843.25$486.94 .$593.75