Mark Lopez wants to invest in the Mexican real estate market. He finds a
house in the city of Guadalajara that costs $7,850,000 pesos. He found a
Mexican bank that will lend him 70% of the price at 11.00% annual rate for
15 years.
If the FX rate MXN/USD = 16.25, what would be his monthly mortgage
payment in USD?
Round your answer to the nearest dollar.