Chuck Boyl saw the following advertisement for a used Volkswagen Bug and decided to work out the numbers to be sure the ad had no errors. Cash price $7,800 Down payment $0 Annual percentage rate 14,53% Deferred price $11,011,80 or 60 payments at $183,53 per month Calculate the monthly payment by formula (Do not round intermediate calculations. Round your answer to the nearest cent.) 2 Monthly payment by formula