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Before purchasing a used car, Cody Lind checked www.kbb.com to learn what he should offer...

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Finance

Before purchasing a used car, Cody Lind checked www.kbb.com to learn what he should offer for the used car he wanted to buy. Then he conducted a carfax.com search on the car he found to see if the car had ever been in an accident. The Carfax was clean so he purchased the used car for $14,850. He put $2,200 down and financed the rest with a 48-month, 7.5% loan. What is his monthly car payment by table lookup? (Use Table 14.2) (Do not round intermediate calculations. Round your answer to the nearest cent.)

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