You want to lease a set of cricket bats from $YL$ td$.$ The lease contract is in the form of $48$ equal monthly payments at a $20\%$ p$.$a$.$

APR compounded continuously. The Present Value of lease payments is equal to $$4000.$ What will your effective monthly rate be$?$

$($Note: APR: Annual Percentage rate$)$

Pls explain properly.