Hak Young is daunted by that monthly payment amount and is trying to figure out how he can make paying off his loan more manageable. He went his bank and found out he could get a personal loan that he could then use to pay off his credit card. The personal loan has an interest rate of 10.75% compounded monthly. Assuming he still planned to pay off his debt in 5 years, what would his monthly payments to the bank be now?