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You need to borrow $34.6 thousand to purchase a new truck. the current loan rate is 6.1% APR. The terms of the loan call for

You need to borrow $34.6 thousand to purchase a new truck. the current loan rate is 6.1% APR. The terms of the loan call for you to pay off your loan in equal monthly payments over 4 years. What is the amount of your monthly payment? Assume monthly compounding.

Enter your answer as a number with two decimal places of precision (i.e. 1.23).

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