Suppose you want to buy a car You have surveyed the dealers' newspaper advertisements, and the following one has caught your attention: College graduate special: New 2014 Nissan Altima 2.55 with automatic transmission. A/C, power package, and cruise control Price and payment is plus tax, title, customer service fee, with approved credits for 72 months at 6 25% APR, compounded monthly. You can afford to make a down payment of $3, 427 (and taxes, insurance as well), so the net amount to be financed is $15,000 What would your monthly payment be