Question 1055222
I'm not sure of the formula you are using.
Here is the standard monthly payment formula.
It looks like you're missing a term.
{{{M=(Pr(1+r)^n)/((1+r)^n-1)}}}
.
.
{{{P=7500}}}
{{{r=0.029/12}}}
{{{n=36}}}
.
.
Yes, that's the answer you'll get with this formula and verified with EXCEL's PMT function.