We have been given the following information:
Total amount borrowed (Including interest) =$23,574
Number of years = 10 years
Step 1: Find the amount paid per year
[tex]\text{Amount paid per year=}\frac{\text{ \$23,574}}{10}=\text{ \$2357.4}[/tex]Step 2: Find the amount paid per month.
Since there are 12 months in a year
[tex]\text{Amount paid per month=}\frac{\text{ \$2357.4}}{12}=\text{ \$196.45}[/tex]