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Qian has just graduated from university, and she has received a letter stating that she must start repaying her student loans. The letter gives the

Qian has just graduated from university, and she has received a letter stating that she must start repaying her student loans. The letter gives the following information:

Loan Balance: $31500

Annual Percentage Rate (APR): 7.14%

Loan Amortization Period: 9.5 years

Calculate Qian's MONTHLY required loan payment: (Avoid rounding intermediate calculations. Round your final answer to 2 decimal places, i.e. 234.56)

Monthly required loan payment =

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