Exercise 5-18 (Algo) Solving for unknown annuity payment; installment notes [LO5-9, 5-10) Don James purchased a new automobile for $10,000. Don made a cash down payment of $2,500 and agreed to pay the remaining balance in 30 monthly installments, beginning one month from the date of purchase. Financing is available at a 24% annualInterest rate. (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the amount of the required monthly payment (Do not round Intermediate calculations. Round your final answer to neares whole dollar amount.) Monthly payment