Carla is taking an Interest Only loan to purchase a $482908 property with 0.85(85%) LTV. The loan is issued for 15 years with monthly payments and has a fixed interest rate at 5%. Under this mortgage contract, what will be Carla's payment in the first month of the loan? State your answer as a number rounded to the nearest cent (e.g. if your answer is $1,000.568, write 1000.57)