You have decided to buy a car that costs $28,200. Since you do not have a big down payment, the lender offers you a loan with an APR of 6.13 percent compounded monthly for 6 years with the first monthly payment due today. What is the amount of your loan payment?
a. $325.03
b. $466.70
c. $395.87
d. $323.38
e. $469.09