You are applying for a 30-year, fixed-rate (APR 6.50%), monthly-payment-required mortgage loan for a house that sells for $80,000 today. The mortgage bank will ask you for 20% initial down payment (in cash, paid immediately) of the house value, and charge you an extra $3,000 closing cost (carried into loan balance and amortized later) when the loan is approved.What should be your monthly loan payment (assuming payment is due by the end of each month)?