Jon Rahm won a record $3.24 million last April for first place at the 2023 Masters. Jon is going to buy a vacation property in Spain with 20% of his winnings. Jon could pay ALL cash for the property but he wants to get a loan for 60 percent of the purchase price at 6.5 percent with monthly payments for a 15 year term. What will his monthly principal and interest payments be if he borrows under these terms?