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A recently married couple ran up a $23,776 credit card balance for wedding expenses. Their credit card charges interest with a 13.99% annual percentage rate.

A recently married couple ran up a $23,776 credit card balance for wedding expenses. Their credit card charges interest with a 13.99% annual percentage rate. What monthly payment is required if the couple wants to pay off this debt with 4 monthly payments over the next 4 months? Use two decimal place accuracy (Hint: Y=4/12 )

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