You have secured a loan from your bank for two years to build your home. The terms of the loan are that you will borrow $180,000 now and an additional $130,000 in one year. Interest of 8 percent APR will be charged on the balance monthly. Since no payments will be made during the 2-year loan, the balance will grow. At the end of the two years, the balance will be converted to a traditional 15-year mortgage at an interest rate of 6 percent.

What will you pay as monthly mortgage payments (principal and interest only)?