You need to borrow $23,000 to buy a car. The current loan rate is 7.9% APR compounded monthly and you want to pay the loan off in equal monthly payments over 5 years. What is the correct computation to find your monthly payment (C)?

A. C = $23,000 [PVIFA(7.9%/12, 60)]

B.

$23,000 = C [1 - (1/1.0795)] / .079

C.

C = $23,000 [1 - (1/1.0065860)] / .079

D.

$23,000 = C [1 - (1 /1.0065860)] / .00658