Answer
$\$132.96$.
Work Step by Step
The formula for the monthly payments is
$m=\frac{A\left (\frac{r}{12} \right ) \left (1+\frac{r}{12} \right )^n}{\left (1+\frac{r}{12} \right )^n-1}$
The given values are
Amount borrowed $A=\$3000$,
Rate of interest $r=6\%=0.06$,
Number of months $n=24$.
Substitute all values.
$m=\frac{3000\left (\frac{0.06}{12} \right ) \left (1+\frac{0.06}{12} \right )^{24}}{\left (1+\frac{0.06}{12} \right )^{24}-1}$
Simplify.
$m=\frac{16.9073966431}{0.1271597762}$
$m=132.961830764$
$m=132.96$ (Two decimal places.)
