Find the Periodic Payment Required to Repay $12,330 Over 15 $\quad P = \$ 158.30$

Multiple Choice

Find the periodic payment required to repay $12,330 over 15 years, with monthly payments at a 11% annual rate.Round to the nearest cent.

A) $\quad P = \$ 158.30$
B) $\quad P = \$ 140.14$
C) $\quad P = \$ 131.06$
D) $\quad P = \$ 167.38$
E) none of the above