Find the Periodic Payment Required to Repay $1,220 Repaid in 3

Multiple Choice

Find the periodic payment required to repay $1,220 repaid in 3 monthly installments, at an annual rate of 14%.Round to the nearest cent.

A) $\quad P = \$ 374.57$
B) $\quad P = \$ 832.38$
C) $P = \$ 37.03$
D) $\quad P = \$ 463.80$
E) $P = \$ 416.19$