For the answer to the question above, I'll provide a computation to the problem given and it will look like this. <span> M = 2345 × (0.0204166667 (1 + 0.0204166667)^(12×7)) / ((1 + 0.0204166667)^(12×7) - 1)
So the answer is M= </span><span>$58.61
I hope my answer helped you with your problem. Have a nice day! </span>