A rental property was recently purchased for $$350,000.$ The

down payment amount was $$50,000$ and the remaining

amount was obtained from a mortgage. The mortgage has a

nominal interest rate of $6\%,$ compounded monthly with a

$30-$year amortization period. The term of the mortgage is $5$

years. What are the couple$$s current monthly payments?

How much will they owe in $5$ years?