Question 1181527
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@ikleyn has the incorrect answer.


L = 35,000 = loan amount
i = interest rate per month = 0.04/12
n = number of months = 36


P = monthly payment
P = (L*i)/( 1-(1+i)^(-n) )
P = (35,000*0.04/12)/( 1-(1+0.04/12)^(-36) )
P = 1,033.3394752395
P = 1,033.34


The answer has been confirmed with this calculator
<a href = "https://www.calculator.net/loan-calculator.html">https://www.calculator.net/loan-calculator.html</a>
or you can use this calculator if you prefer
<a href = "https://www.bankrate.com/calculators/mortgages/loan-calculator.aspx">https://www.bankrate.com/calculators/mortgages/loan-calculator.aspx</a>
Both of which are free. 
There are tons more options of course, so feel free to use your favorite.


Answer: $1,033.34
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