You are taking out a car loan and will make payments of $302 each month (beginning one month from today), for a total of 60 monthly payments. If the interest rate on the loan is 1.36% (the effective monthly rate on this loan), how much are you borrowing to buy the car? [Hint: Loan problems are typically PV annuity problems, where the amount you are borrowing is the PV of the series of future payments.