Joe borrowed 2400. Interest is 12% for 12 months. 213.12 monthly payments. balance is 1632.10 after four payments. What is the interest for the fifth payment

Question

finding interest rates and just cannot get this problem.

 Joe borrowed $2400 to put to his house. Interest is 12 percent for 12 months the monthly payment is 213.12. The balance of the loan after four payments is 1632.10. what is the interest for the fifth payment

Answer 1

16.32 will be interest for the fifth payment.