Alysha would like to borrow $$38,000$ to pay one year's tuition at a private U$.$S$.$ university. She would like to make quarterly payments

and finish repaying the loan in $5$ years. If the bank is quoting her a rate of $5$ percent compounded monthly, determine her quarterly

payment. $($Round effective interest rate to $4$ decimal places, e$.$g$.25\mathrm{.}1253\%$ and final answer to $2$ decimal places, e$.$g$.125\mathrm{.}12.)$

Quarterly payment

$

eTextbook and Media

Attempts: $0$ of $3$ used

Using multiple attempts will impact your score.

$25\%$ score reduction after attempt $1$