You are thinking of purchasing a new car with $2,000 down. You found what you want for $22,000. The bank offers a 36-month loan at 7% APR. But you can only make $500 payments for the coming 3 years. At the end of the 3 years, you are expected to repay the remaining balance in one installment. How large will this payment be? Please show each step of your reasoning.