St. Jude plans to purchase a new MRI machine in 3 years. The machine currently sells for $2,500,000.00, but the price is expected to increase at 7% per year compounded semiannually. St. Jude decides to set up an account to save money for the future purchase of the machine. Calculate the amount of each end of the month payment into a fund if the money in the account is expected to earn 5.25% compounded monthly.