Mr. Lee borrowed $180,000 from a bank to help finance the purchase of a house. The bank charges interest at a rate of 3.6% per year on the unpaid balance, with interest computations made at the end of each month. Mr. Lee has agreed to repay the loan in equal monthly installments over 30 years. How much should each payment be if the loan is to be amortized at the end of the term? Show all work including the original formulas you have applied.