to the correct answer. Melissa Hernandez received an 8-year subsidized loan of $24,000 at an annual interest rate of

to the correct answer.

Melissa Hernandez received an 8-year subsidized loan of $24,000 at an annual interest rate of 4.7%. What are Melissa’s monthly loan payments for this loan when she graduated in 1 year? (Round your answer to the nearest cent)

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