$($Q$)$ A borrower is interested in comparing the monthly payments on two otherwise equivalent $30-$year FRMs$.$ Both loans are for $$300,000$ and have a $7\%$ interest rate. Loan $1$ is fully amortizing, whereas Loan $2$ has negative amortization with a $$350,000$ balloon payment due at the end of the life of the loan. How much higher is the monthly payment on loan $1$ versus loan $2?($Hint: calculate both payments and take the difference. Only the future values of the loans are different.$)$ Round your answer to two decimal places.