A $300, 000 loan is to be repaid over 30 years in equal monthly installments of $M ,

beginning at the end of the ﬁrst month. Find the monthly payment M if the loan

annual rate is 5% compounded monthly.

Hint: Find an expression for the present value of of the sum of all of the monthly

payments, set it equal to $300,000 and solve for M .

Need to find using series I think. We haven't done anything like this in class and I looked through the book and their is nothing that will help, basically I'm 100% lost...