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Sven Lundgren buys a three-year-old Chevrolet from a car dealer for $15,800. He puts $500 down and finances the rest through the dealer at 12.5%

Sven Lundgren buys a three-year-old Chevrolet from a car dealer for $15,800. He puts $500 down and finances the rest through the dealer at 12.5% add-on interest. If he agrees to make twenty-four monthly payments, find the size of each payment.

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