i need it to be explained how you got the answer. not on a computer. i need the original formula provided, then i need these numbers shown plugged into the formula, then i need the answer. please!

1. Recently, Jamie and Jake each bought new cars. Both received a loan from a local bank with a rate of 12% where payments are made at the end of each month, and they both pay the same monthly payment. Jamie's loan is for $15,000; however, his loan matures at the end of 4 years (48 months), while Jake's loan matures in 5 years (60 months). After 48 months Jamie's loan will be paid off, but what will be the remaining balance on Jake's loan