You anticipate purchasing a new home. Based on your current financial position, the most you can afford on a monthly basis is $2,500.00 (ignoring taxes and fees). You locate a new home in a desirable area with a asking price of $350,000 and your bank offers you a thirty-year mortgage with an annual rate of 7.5%. Assuming you must offer full price for the home (due to the number of potential purchasers in the market), will this transaction fit into your budget (again, ignoring taxes and fees)? You must solve for the required monthly payment given the above fact pattern using a financial calculator and show ALL work (including calculator keystrokes).