Word Problem $14-9($Algo$)[$LU $14-1(3)]$

Troy Juth wants to purchase new dive equipment for Underwater Connection, his retail store in Colorado Springs. He was offered a

$$72,000$ loan at $8\%$ for $48$ months. What is his monthly payment by table lookup? $($Use Table $14\mathrm{.}2)$

Note: Round your answer to the nearest cent.

Monthly payment