You want to purchase a new car in 9 years and expect the car to cost $39,000. Your bank offers a plan with a guaranteed APR of 6.5% if you make regular monthly deposits. How much should you deposit each month to end up with $39,000 in 9 years?

You should invest $________ each month.

(Round the final answer to the nearest cent as needed. Round all intermediate values to seven decimal places asneeded.)