Ashley's grandparents are considering a reverse annuity mortgage to generate some extra cash flow during their retirement since their original mortgage was paid off eight years ago. The lender says they can accumulate debt to a maximum of 75% of their home's current value of 220,000. Given a 15 year term and an interest rate of 7.25%, how large a monthly payment can they expect the receive

a.679.13

b.1,506.22

c.2,008.30

d.509.35