Let the monthly payments be x
Loan=Present value of payments
Hence,
50000=x/(5%/12)*(1-1/(1+5%/12)^23)-x/(1+5%/12)^12
=>x=50000/(1/(5%/12)*(1-1/(1+5%/12)^23)-1/(1+5%/12)^12)
=>x=2388.0546
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