Your friend will sell you his coffee shop for $475,000, with "seller financing," at a 9.0% nominal annual rate. The terms of the loan would require you to make 12 equal end-of-month payments per year for 8 years, and then make an additional final (balloon) payment of $50,000 at the end of the last month. What would your equal monthly payments be? (Do not round intermediate calculations, round your final answer to the nearest cent.)