A family buys a house and has to pay monthly

[needOfHelpCMath]

In order to purchase a home, a family borrows \$40,000 at an annual interest rate of 11%, to be paid back over a 30 year period in equal monthly payments. What is their monthly payment?

A) \$366.67 B) \$12.12 C) \$380.93 D) \$392.05

Using the Periodic Deposit for Monthly Amortize Payments formula but can't get the right answer or I am using the wrong equation?
Here is the equation:

R = P(r/m) / [1-(1+r/m)^(-mt)]

R = the periodic deposit for ANNUITY/ Sinking fund/ Amoritization
P = Present Value or Deposit Value
r = interest rate in decimal
m = number of times interest is compounded per year
t = time

when I plug in the numbers my answer is \$130.50

 

[MarkFL]

When I plug in the numbers, I get choice C).

W|A - 40000(0.11/12)/(1-(1+0.11/12)^(-30*12))

 

[needOfHelpCMath]

hmm...probably missing some parentheses.

- - - Updated - - -

AHHH see my mistake! keep on making 11% in decimal form to .011 silly me (Drunk)(Drunk)(Drunk)