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Find the payment size for an amortized loan with the following parameters: Loan Size: 350000 Term: 30 Years Annual Nominal Rate Compounded Monthly: 2.875% Payment

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Find the payment size for an amortized loan with the following parameters: Loan Size: 350000 Term: 30 Years Annual Nominal Rate Compounded Monthly: 2.875% Payment Frequency: Monthly (End of each month) Payment Size: Each Payment is Equal Size Give your answer as a decimal rounded to two places (i.e. X.XX). Selected Answer: [None Given] Response Feedback: Incorrect

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