You borrow $20000 from your credit union to purchase a used car. The interest rate on your loan is 0.25% per month* and you will make a total of 40 monthly payments. What is your monthly payment? To use the formula method to calculate the annuities, which formula do you need to use? Group of answer choices:

1. A = P (A/P, 0.25%, 40)

2. A = P (P/A, 0.25%, 40)

3. A = A (P/A, 0.25%, 40)

4. A = A (A/P, 0.25%, 40)