Today you are purchasing a car that costs $$28,695$ and have saved $$5,906$ for a down payment toward the purchase $--$ so you will be borrowing the difference between those. You will make payments for $60$ months $($starting $1$ month from today$).$ If the relevant interest rate is $0\mathrm{.}51\%$ per month $($an Effective Monthly Rate$),$ the monthly payment amount will be $$.$

Hint: Loan problems are typically PV annuity problems, where the amount you are borrowing is the PV of the series of future payments.

Margin of error for correct responses: $+/-.05$