7. 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

e.

$1,324.02