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3. [0/4 Points] DETAILS PREVIOUS ANSWERS MY NOTES John borrows 50000 dollars from a bank that charges interest at an annual rate of 8 percent,

3. [0/4 Points] DETAILS PREVIOUS ANSWERS MY NOTES John borrows 50000 dollars from a bank that charges interest at an annual rate of 8 percent, compounded monthly. Calculate the monthly payment that John would have to make in order for the loan to be paid off after exactly 20 years. (Give your answer, in dollars, to the nearest cent. You should not include the dollar sign or any commas in your answer.) monthly payment: 180 x

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