Louie takes out a three-month loan of $1000. The lender charges him 10% interest per month compounded monthly. The terms of the loan state that Louie must repay the loan in three equal monthly payments. To the nearest dollar, how much does Louie have to pay each month?
Choose the correct choice from the following:
A) 333
B) 383
C) 402
D) 433
E) 483
Let say she pays $X per month.   interest for month 1 = 1000*10/100= 
<gadget id="calculator">1000*10/100</gadget>
<output>100</output>
100   interest for month 2= (1000+100 -X)*10/100   = (1100 - X)*10/100   = 110 - X/10   interest for month 3 = (1100 -X + 110 - X/10 - X)*10/100   = 121 - 21/100 X   Total interest = 3X-1000   So 3X-1000 = 100 + 110 - X/10 + 121 - 21/100 X   =&gt;331X = 133100   =&gt;X = 402.11   ANSWER:402
<result>C</result>
Louie takes out a three-month loan of $1000. The lender charges him 10% interest per month compounded monthly. The terms of the loan state that Louie must repay the loan in three equal monthly payments. To the nearest dollar, how much does Louie have to pay each month?