Question: keep 4 decimals for effective rate and 2 decimals for final answer please! Alysha would like to borrow $30,000 to pay one year's tuition at

keep 4 decimals for effective rate and 2 decimals for final answer please!

Alysha would like to borrow $30,000 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, eg. 25.1253\% and final answer to 2 decimal places, eg. 125.12.)

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