Answer
$\$ 341.24$
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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Solve for $A_{p},$ multiply both sides with $\displaystyle \frac{1-(1+i)^{-n}}{i}$
$A_{p}=R\displaystyle \times\frac{1-(1+i)^{-n}}{i}$
$\mathrm{R}=30,$
$n=12, \displaystyle \quad i=\frac{0.10}{12}\approx 0.008333$
$A_{p}=30\displaystyle \frac{1-(1+\frac{0.10}{12})^{-12}}{\frac{0.10}{12}}=\$ 341.24$
