<PRE><B>Question 1198906</B>
FV = PMT * (((1 + r/n)^(nt) - 1)/(r/n))

where FV is the future value ($1900), PMT is the monthly payment , r  interest rate (3.5%), n is  12 monthly compounding, and t is the number of years =1.

Plug in the values

1900 = PMT * (((1 + 0.035/12)^(12*1) - 1)/(0.035/12))

Solving for PMT, we get:

PMT = $157.29

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