You have to borrow $1,237$ Convertible Marks $($BAM$)$ to fund a waterworks project. You are paying off the loan in $12$ monthly installments. The interest rate is $1\%$ per month.

The amount of the equal monthly installment needed to pay off the loan is BAM.

Note $1$: Please enter your answers to two decimal places. If using the interest factor method, apply the value of the factor as presented in the table or spreadsheet $($with all four decimal places$).$

Note $2$: There is no need to find rates for Canadian Dollars in the solution. The currency is "Convertible Mark", code: "BAM" $($ISO $4217$: $2015,$ clause $8\mathrm{.}1).$