Suppose You Are Buying Your First Condo for $300,000,and You

Multiple Choice

Suppose you are buying your first condo for $300,000,and you will make a $15,000 down payment.You have arranged to finance the remainder with a 30-year,monthly payment,amortized mortgage at a 6.5% nominal interest rate,with the first payment due in one month.What will your monthly payments be?

A) $1,459.13
B) $1,369.06
C) $2,179.69
D) $2,215.71
E) $1,801.39