A sports car enthusiast needs to finance $30000 of the total purchase price of a new car. A loan is selected having 48 monthly level payments with a lender charging 5% convertible monthly. However, the lender informs the buyer that their policy is not to exceed a $500 monthly payment on any car Loan. The buyer decides to accept the loan offer with the $500 payment and then decides to take out a second 24-month loan with a different lender at 7.5% convertible monthly to make up the shortfall not covered by the first loan. Find the amount of the monthly payment on the second loan.