Youd like to buy a new sports car. Youre considering borrowing $15,837 in order to purchase the car. Youll borrow money from Bank ZoomZoom at an APR of 6%. Bank ZoomZoom compounds interest monthly.

Youve decided to structure the loan so that payment shrink each month by -1% per month. The first payment will be made immediately. Youll make a total of 78 monthly payments.

Determine the size of the 15th monthly payment.