$1,305.62 is incorrect

You are in the market for a single-family property that is listed for $300,000. Assume you are able to secure an 80% loan-to-value ("LTV") fixed interest rate mortgage loan with a stated annual nominal interest rate of 3.25% and monthly loan payments over the fully amortizing thirty-year term. What do you expect to be your new monthly mortgage loan payment? $650.00 $812.50 $1,044.50 $1,305.62