You are negotiating to buy a new car with a car salesman at a local dealer. You have negotiated the price to $$31,000.$ You have $$5,000$ to put towards the down payment and plan to get a loan for the rest. If you can get an annual interest rate of $8$ percent APR $($with monthly compounding$)$ over a $5-$year period, what would be your monthly payment? Round it to two decimal place $($cents$),$ e$.$g$.,234\mathrm{.}56.$

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