Jack has just graduated from Texas A&M and taken a job makin…
Jack has just graduated from Texas A&M and taken a job making a very nice salary! The job is in California and although he did not realize how expensive homes were there he has found a house he really likes. It is listed at $2,750,000 and his family has gifted him 15% for the down payment. He secures a loan for the rest at 6.49% interest. He will make monthly payment for the next 30 years. What is the amount of his down payment? NOTE: Please format your answer with a ‘$’ and rounded to 2 decimal places where needed. For example, $1234.56 _______