Exam Question $5\mathrm{.}3)$ You borrow $$250,000$ with a $30-$year mortgage loan to purchase a home. If the interest rate is $0\mathrm{.}60\%$ per monthly period $(7\mathrm{.}2\%$ annually$),$ then what is the amount of each monthly payment on the loan? Answer without a $ sign, without a $+$ or sign, and to two decimal places.