Bruce currently owes $281,034 on his mortgage with 11 years of payments left that he pays at the end of each quarter. His next payment is due in one quarter and the mortgage has an APR of 3.2%. Find the size of the payments that Bruce currently makes on his mortgage. (do not report this number)

In 6 years he will receive a lump-sum payment of $22,106 which he will immediately use to buy an ordinary annuity that makes payments at the end of each quarter starting one quarter after he buys it. This annuity will make its last payment at the end of year 11. Find the payment from this annuity if it pays an APR of 8.68% (do not report this number)

If Bruce uses the payments from the annuity he bought to help pay his mortgage payment, how much will his new (lower) quarter(ly) mortgage payment be? (report this number as your answer)

Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "$" "," or any other formatting. Carry interim computations to at least 4 decimals.

Enter numerical answers as a positive or negative number rounded to 2 decimal places (###.##)