A new one-year membership at Roswell Tennis Center costs $160. A registration fee of $28 is paid up front and the rest is paid monthly. How much do new members pay each month?

Calculate the total payback for a $3,500 loan at 8% annual interest with monthly payments for two years. show all of your steps. use the formula, m = pm(1 + m)^na/(1 + m)^na - 1, as needed.