Suppose that you borrow $$17,000$ for four years at $7\%$ toward the purchase of a car. Use $PMT=\frac{P(\frac{r}{n})}{[1-(1+\frac{r}{n}{)}^{-nt}]}$ to find the monthly payments and the total interest for the loan.

The monthly payment is $

$($Do not round until the final answer. Then round to the nearest cent as needed.$)$