You have just been hired as a loan officer at a national bank. Your first assignment is to calculate the amount of the periodic payment $($in $ $)$ required to amortize $($pay off$)$ the following loan being considered by the bank $($use Table $12-2).($Round your answer to the nearest cent.$)$

$\backslash$table$[[\backslash$table$[[$Loan$],[$Payment$]],\backslash$table$[[$Payment$],[$Period$]],\backslash$table$[[$Term of$],[$Loan $($years$)]],\backslash$table$[[$Nominal$],[$Rate $(\%)$