Question: Suppose I bought a $532 Teddy Bear with no down payment. The bear seller charges 61% SIMPLE interest and I need to pay the principal

Suppose I bought a $532 Teddy Bear with no down payment. The bear seller charges 61% SIMPLE interest and I need to pay the principal plus interest off in 2 years with equal monthly payments. What is the monthly payment amount? Round answer to two places after the decimal point.

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