<span>$1,172.37
The formula for calculating the payment on a loan is
P = r(PV)/(1 - (1 + r)^(-n))
where
P = Payment
PV = Present value
r = interest per period
n = number of periods
Since there's 12 months per year and the loan is for 30 years, there will be 12 * 30 = 360 periods. The interest rate per month will be 0.06525 / 12 = 0.0054375, and finally, the present value is the size of the loan at 185000. Now let's substitute and solve.
P = r(PV)/(1 - (1 + r)^(-n))
P = 0.0054375(185000)/(1 - (1 + 0.0054375)^(-360))
P = 1005.9375/(1 - (1.0054375)^(-360))
P = 1005.9375/(1 - 0.141961802)
P = 1005.9375/0.858038198
P = 1172.369134
P = 1172.37
So the monthly interest and principle payments are $1,172.37
Note: The actual payments will be higher since the above figure doesn't include insurance and taxes.</span>