Janine wants to but a lot which cost 1 million pesos. She plans to give a down payment of 20% of the cost, and the rest will be paid by financing at monthly interest rate of 2% for 10 years in equal...

Janine wants to but a lot which cost 1 million pesos. She plans to give a down payment of 20% of the cost, and the rest will be paid by financing at monthly interest rate of 2% for 10 years in equal monthly installments. What will be the monthly payment?

(KINDLY EXPLAIN WHY YOU USE THE FORMULA. AND PLEASE USE FORMULAS FROM GOOGLE AND NOT CREATED BY YOU SO I CAN UNDERSTAND. THIS IS ALREADY MY 3RD TRY ASKING THIS QUESTION.)