Find the monthly interest payment in the situation below.

Vic bought a new plasma TV for

$2200.

He made a down payment of

$200

and then financed the balance through the store. Unfortunately, he was unable to make the first monthly payment and now pays

4%

interest per month on the balance (while he watches his TV).

Question content area bottom

Part 1

What is Vic's monthly interest payment?

$____

(Round to the nearest dollar as needed.)