Ricardo purchase a used car for $10,000. He wrote a check for $2,000 as a down payment for the car and financed the $34972 balance. The annual percentage rate (APR) is 9% compounded monthly, and the loan is to be repaid in equal monthly installments over the next four years. How much is Ricardo's monthly car payment?

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Ricardo purchase a used  car for $10,000. He wrote a check for $2,000 as a down payment for the car and financed the $34972 balance. The annual percentage rate (APR) is 9% compounded monthly, and the loan is to be  repaid in equal monthly installments over the next four years. How much is Ricardo's monthly car payment?

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