Question 1194150
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The monthly payment formula is
P = (L*i)/( 1-(1+i)^(-n) )
where,
P = monthly payment
L = loan amount
i = interest rate per month, in decimal form
n = number of months


For this particular problem:
L = 375,000 dollars
i = 0.036/12 = 0.003 exactly
n = 30*12 = 360 months (equivalent to 30 years)


Let's find the monthly payment (P) based on those values above.
P = (L*i)/( 1-(1+i)^(-n) )
P = (375000*0.003)/( 1-(1+0.003)^(-360) )
P = 1,704.9200633444
P = <font color=red>1,704.92 dollars is the monthly payment</font>


Some free calculators found online to help check your work
<a href = "https://www.bankrate.com/loans/loan-calculator/">https://www.bankrate.com/loans/loan-calculator/</a>
<a href = "https://www.calculator.net/loan-calculator.html">https://www.calculator.net/loan-calculator.html</a>
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