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Ratchat decides to buy a car at the price of 990,000 Baht. He has 20% of the price for a down payment and learns that

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Ratchat decides to buy a car at the price of 990,000 Baht. He has 20% of the price for a down payment and learns that the interest is quoted at add-on rates. He ends up borrowing for a period of 7 years at an add-on interest rate of 3.99%. What is the monthly payment? (Do not round intermediate calculations. Round your answer to two decimal places.)

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