First figure out how much the loan will be: $32,000 - $8,000 = $<<32000-8000=24000>>24,000
Then divide the loan amount by the number of payments to find the monthly payment before interest: $24,000 / 48 months = $<<24000/48=500>>500/month
Then multiply the loan amount by 5% to find out how much the interest is: $500/month * .05 = $<<500*.05=25>>25/month
Then add the interest to the payment amount to find the total monthly payment: $500/month + $25/month = $<<500+25=525>>525/month
#### 525