Suppose You Are Buying Your First House for $210,000,and Are

Multiple Choice

Suppose you are buying your first house for $210,000,and are making a $20,000 down payment.You have arranged to finance the remaining amount with a 30-year,monthly payment,amortized mortgage at a 6.5% nominal interest rate.What will your equal monthly payments be?

A) $1,083.84
B) $1,140.88
C) $1,200.93
D) $1,260.98