Answer
$\$ 307.24$
Work Step by Step
(see p. 870)
If a loan $A_{p}$ is to be repaid in
$n$ regular equal payments with
interest rate $i$ per time period,
then the size $R$ of each payment is given by
$R=\displaystyle \frac{iA_{p}}{1-(1+i)^{-n}}$
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Given
$A_{p}=\$ 12,000$,
monthly = 12 times per year,
$n=4(12)=48,$
$i=\displaystyle \frac{0.105}{12}=0.00875$,
$R =\displaystyle \frac{(0.00875)(12,000)}{1-(1.00875)^{-48}}=\$ 307.24$
