Non annual compounding rate. 1) the time line, 2) inputs to, and 3) output from the financial calculator.

8. You wish to purchase a condo at a cost of $185,000. You are able to make a down payment (i.e. cash payment) of $35,000 and will take a mortgage loan for the rest of money needed to buy the condo. If you take a 30-year mortgage loan at an interest rate of 3.6% that is compounded monthly, how much is your monthly payment