Stephen wants to purchase a Toyota Prius in one year; the projected price of the vehicle is $26,500. If he puts down $2,500 and finances the balance over five years at a dealer financing rate of 1.2% (i.e., annual percentage rate) what will his monthly amortized loan payment? (Note that for purposes of this question assume the monthly payments are made at the end of the period.)

Choose one answer.

		$412.32
		$414.51
		$432.64
		$455.27