Alpha Limited has approached Commonwealth Bank to obtain a term loan to finance the purchase of a new equipment. The bank offers a $200,000 loan, amortised over ten years at 12% per annum, payable monthly. Calculate the monthly loan instalments at the end of each month."

"$1,666.67 "

"$2,869.42 "

"$2,400.00 "

"$2,841.01 "