You decide to borrow $250,000 to build a new home. The bank charges a monthly effective interest rate of .006667. If you pay back the loan over 30 years, what will your monthly payments be (rounded to the nearest dollar)?

Instruction: Type your answer in dollars, and round to two decimal places.

You decide to borrow $250,000 to buld a new home. The bank charges a monthly effective interest rate of ,006667, If you pay back the loan over 30 years, wh. monthly payments be (rounded to the nearest dollar)? Instructiog: Type your answer in dollars, and round to two decimal places. E.g. if your answer is 577.77 , you should type ONLY the number 77.77, neither not 77.8. Otherwise, Blackboard will treat it as a wrong answet