Find the periodic payment R required to amortize a loan of P dollars over t years with interest earned at the rate of r %/year compounded m times a year. P=30,000

Question

Find the periodic payment R required to amortize a loan of P dollars over t years with interest earned at the rate of r %/year compounded m times a year. P=30,000
r = 8
t = 12
m =1