9 Michelle bought a new car for $29,000. She paid a 10% down payment and financed the remaining balance for 72 months with an APR of 6.5%. Determine the monthly payment that Michelle pays. Round your answer to the nearest cent, if necessary. Number of Fixed Payments Required to Pay Off Credit Card Debt A 11- (PM log(1+) R = 4 Monthly Payment Formula for Fixed Installment Loans (P.²) -log PMT= Maximum Purchase Price maximum purchase price = PMT |·-(-+-2)-7

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