On April 1, 2018, John Vaughn purchased appliances from the Acme Appliance Company for $700. In order to increase sales, Acme allows customers to pay in installments and will defer any payments for six months. John will make 18 equal monthly payments, beginning October 1, 2018. The annual interest rate implicit in this agreement is 24%. (FV of $1, PV Of $1, E A of s . PVA os. E AD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required Calculate the monthly payment necessary for John to pay for his purchases. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) Monthly payment