A loan of $50,000 is due 10 years from today. The borrower wants to make monthly payments at the end of each month into a fund so that the fund accumulates $50,000 by the end of 10 years. The fund...

A loan of $50,000 is due 10 years from today. The borrower wants to make monthly payments at the end of each month into a fund so that the fund accumulates $50,000 by the end of 10 years. The fund will earn 10 percent returns compounded monthly. What will the monthly payments have to be?

A loan of $50,000 is due 10 years from today. The borrower wants to make monthly payments at the end of each month into a fund so that the fund accumulates $50,000 by the end of 10 years. The fund will earn 10 percent returns compounded monthly. What will the monthly payments have to be?

$268.50

$341.72

$366.13

$317.31

$244.09