A local finance company quotes an interest rate of $19\mathrm{.}5$ percent on one$-$year loans. So$,$ if you borrow $$46,000,$ the interest for the year will be $$8,970.$ Because you must repay a total of $$54,970$ in one year, the finance company requires you to pay $$54,970/12,$ or $$4,580\mathrm{.}83$ per month over the next $12$ months.