(1 point) (Exercise 3.3) A sports car enthusiast needs to finance $29500 of the total purchase price of a new car. A loan is selected having 36 monthly level payments with a lender charging 7% convertible monthly. However, the lender informs the buyer that their policy is not to exceed a $700 monthly payment on any car Loan. The buyer decides to accept the loan offer with the $700 payment and then decides to take out a second 24 -month loan with a different lender at 9.5% convertible monthly to make up the shortfall not covered by the first loan. Find the amount of the monthly payment on the second loan. ANSWER =$