Solve the Problem $\$ 45,000$ At an Annual Interest Rate Of $13 \%$

Multiple Choice

Solve the problem.
-In order to purchase a home, a family borrows $\$ 45,000$ at an annual interest rate of $13 \%$ , to be paid back over a 30 year period in equal monthly payments. What is their monthly payment?

A) $\$ 507.53$
B) $\$ 497.79$
C) $\$ 16.25$
D) $\$ 487.50$