Answer:
monthly payment = $56.445
Explanation:
given data
loan = $5000
interest rate r = 5.3 % = 0.053
time t = 2 year = 24 months
solution
we will use here amount of the monthly payments formula that is
monthly payment = principal ×
................1
put here value and we get
monthly payment = 5000 ×

monthly payment = $56.445