8. You have just taken out a 30year mortgage on your new home for $120,000. This mortgage is to be repaid in 360 equal monthly installments. If the stated (nominal) annual interest rate is 14.75 percent, what is the amount of each of the monthly installments? (Note: The convention when periodic payments are involved is to assume that the compounding frequency is the same as the payment frequency, unless stated otherwise. Thus this implies 14.75% APR, compounded monthly for this problem.)---please show answer with and without using a financial calculator

a. $1,515.00

b. $1,472.38

c. $1,493.37

d. $1,522.85

e. $1,440.92