How much would your monthly payment be on a 4-year loan if the following assumptions were true? You borrowed $5,000. The fixed APR on the loan is 3.2%. Note: A fixed APR is an annual interest rate that does not change during the 4-year period. You will make equal monthly payments to repay both the loan amount and the monthly interest charges. You want to completely pay off the loan in exactly 4 years. $1,258.34 per month $111.11 per month $255,673.86 per month $205.26 per month