Doug Black bought a jet ski with a 6% add-on interest installment loan from his credit union. The purchase price was $1,950. The credit union required a 15% down payment and equal monthly payments...

Doug Black bought a jet ski with a 6% add-on interest installment loan from his credit union. The purchase price was $1,950. The credit union required a 15% down payment and equal monthly payments for 48 months. What are Doug's monthly payments (in $)? (Round your answer to the nearest cent.)

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