ANSWER -
To find the monthly payment for the loan, we can use the formula for calculating the monthly payment of a loan, which is:
Monthly Payment = (P - D + F) / n
where P is the purchase price, D is the down payment, F is the finance charge, and n is the number of monthly payments.
Plugging in the given values, we get:
Monthly Payment = (3700 - 700 + 290) / 24
Monthly Payment = 3290 / 24
Monthly Payment = $137.08 (rounded to the nearest cent)