Determine the monthly payment of a loan for $3,000 at 7.5% interest compounded monthly for 36 months.

For a fixed-payment loan, use the monthly rate in the payment formula: payment = 3,000(0.075/12) ÷ [1 − (1 + 0.075/12)^−36]. The monthly interest rate is 0.00625, and this calculation gives about $93.32 per month. Therefore, the correct choice is $93.32.

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