Paul and Paula are purchasing a home for a price of $350,000. To avoid paying mortgage insurance, they will make a down payment of 20% of the price or $70,000. They will finance the remaining $280,000 with a 30-year, monthly payment, amortized mortgage at a fixed 3.6% nominal interest rate, with the first payment due in one month. What will the size of their monthly payment be? 0 $987 O $1,265 O $1,103 O $839