Assume that you take out a 15-year mortgage (180 months) with a face value of $314,000 and a stated annual rate of 12.6%, compounded monthly. Given this information, and assuming end-of-month payments, how much will your payments be? Be careful with rounding errors when working with small numbers. Round your final answer to the nearest $0.01.

Assume that you take out a 15-year mortgage (180 months) with a face value of $314,000 and a stated annual rate of 12.6%, compounded monthly, Given this information, and assuming end-of-month payments, how much will your payments be? Be careful with rounding errors when working with small numbers. Round your final answer to the nearest $0.01