Holly takes out a Fully Amortizing 15-year Hybrid adjustable-rate mortgage loan for $600,000.

Loan Term: 3/1 ARM with an initial rate of 3.0%

Resets are based on Prime Rate with 2.0% margin.

Caps on Interest Rates: Annual Cap = 2.4%. Lifetime Cap = 5.4%

Floors on Interest Rates: None

Negative Amortization: Not Allowed

At the end of year 3, Prime Rate is expected to be 4.0%. What is the monthly payment for year 4?