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OpenStudy (anonymous):
Jack is buying a new refrigerator for $1,800. The distributor is charging him an annual interest rate of 10.1% and is using the add-on method to compute monthly payments. If he pays off the loan in 36 months, what are his monthly payments? If he makes a down payment of $210, how much will his monthly payments be? Do not round until the final answer. Then, round to the nearest cent.
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