Daniella and Barries offer, for $1 million, was accepted by the sellers. Barrie was very excited, because it would bring him closer to his sister Sophie. Prior to making an offer on the home, Daniella was able to lock in a five-year fixed, closed mortgage rate for 4.7% APR with a 25-year amortization period. They plan to make monthly payments. Based on their research, Daniella and Barrie estimate the annual property taxes to be $3,900 per year.

If they move into their new home, what will be their monthly mortgage payments?