Question: I need help, step-by-step, on how to reach the answer. Thank You Jerry has a business line of credit that has $204,000 borrowed on it

I need help, step-by-step, on how to reach the answer. Thank You

Jerry has a business line of credit that has $204,000 borrowed on it and the interest rate is 7.7% compounded annually. He pays $2,200 monthly on it. What monthly amount could be covered by his business overhead insurance coverage? Input to the nearest dollar. Answer: The correct answer is: 1309

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