Question 458032
There are {{{ 10*12 = 120 }}} months in {{{ 10 }}} years
The amount of principle he has to pay back each month is:
{{{ 50000 / 120 = 416.67 }}}
The interest due  is {{{ .08*50000 = 4000 }}}
Over 10 years that is {{{ 4000/120 = 33.33 }}} per month
(principle + interest) = monthly payment
{{{ 416.67 + 33.33 = 450 }}}
Jack's monthly payment is $450
Hope I got it