Assume that you can buy a $6,500 computer system in monthly installments for 4 years . The seller charges you 12% interest compounded monthly. What

Assume that you can buy a $6,500 computer system in monthly installments for 4 years. The seller charges you 12% interest compounded monthly. What is your monthly payment? Assume your first payment is due at the end of the month. (Present value of annuity of $1 is 8.2972) (Do not round intermediate calculations. Roundyour answer to the nearest cent.)

Monthly payment           $