The Johnsons secured a mortgage loan of $257,000 to finance the purchase of a house. The bank charges interest at the rate of 2.99%/year on the unpaid balance, and the interest computations are performed at the end of each month. The Johnsons have agreed to repay the mortgage loan in equal monthly installments over 30 years. What is the size of each repayment amount if the loan is to be amortized at the end of the 30-year term?