Find the Periodic Payment R Required to Amortize a Loan

Multiple Choice

Find the periodic payment R required to amortize a loan of P dollars over t years with interest earned at the rate of r%/year compounded m times a year. Round your answer to the nearest cent. ​
P = 60,000, r = 10.5, t = 29, m = 10
​

A) R = $538.48
B) R = $304.53
C) R = $662.01
D) R = $604.66