Suppose you want to buy a car. You have surveyed the dealers$$ newspaper advertisements, and the following one has caught your attention: $8\%$ nominal, compounded monthly. $48-$month financing on all Mustangs in stock. $60$ to choose from. Already for delivery. Prices start as low as $$21,599.$ You just add sales tax and $1\%$ for dealer$$s freight. We will pay the tag, title, and license.

Add $4\%$ sales tax $=$ $$863\mathrm{.}96$ Add $1\%$ dealer$$s freight $=$ $ $215\mathrm{.}99$ Total purchase price $=$ $$22,678\mathrm{.}95$ You can afford to make a down payment of $$2678\mathrm{.}95,$ so the net amount to be financed is $$20,000.$ What would the monthly payment be$?$