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 $14,200. He put $1,400 down and financed the rest with a 48-month, 8.5% 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.)

14.2 Loan amortization table (monthly payment per $1.000 to pay principal and interest on installment loan) TABLE Terms in 10.00% 1.00% 11.50% months 7.50% 8.50% 10.50% $170.34 $170.58 $170.83 $172.30 $172.05 $171.20 $171.56 $171.8 12 86,76 87.22 86.99 87.46 87.92 88.62 59.60 58.92 59.15 59.37 60.06 60.29 60.52 60.75 46.38 24 45.00 45.23 45.46 45.69 46.6I 46.84 37.12 38.04 36.66 36.89 37.35 37.8 38.28 38.5 32.98 31.80 36 31.34 31.57 32.50 32.74 42 27.15 27.38 27.62 27.85 28.32 28.55 28.79 29.03 24.18 24.42 24.65 24.77 25.36 25.60 25.85 26.09 22.12 21.88 22.36 22.59 23.07 23.32 23.56 23.8 21.99 21.74 20.04 20.28 20.52 20.76 21.25 21.49 14.2 concluded) TABLE Terms in 13.00% 4.00% I4.50% 15.50% 13.50% 15.00% months 12.50% $173.04 $172.80 $173.29 $173.54 $173.79 $174.28 $174.03 89.79 89.32 12 89.08 89.55 90.02 90.26 90.49 61.21 61.45 61.92 62.38 62.62 47.3I 47.78 48.49 24 47.54 48.0 48.72 39.70 39.22 36 42 2708 48 54 60 12.00% $172.55 60.98 47.07 38.75 33.2 29.28 26.33 24.06 22.24 16.00% $174.53 90.73 62.86 48.96 40.66 35.16 28.34 24.32