You have just arranged for a $157,000 mortgage to finance the purchase of a large tract of land. The mortgage has a 7.65 percent APR, and it calls for monthly payments over the next 20 years. However, the loan has a sevenyear balloon payment, meaning that the remaining principal must be paid off at the end of the sever-year period. How big will the balloon payment be?

a. $105,304

b. $117,290

c. $126,201

d. $136,624