Five years ago, you took out a 5/1 adjustable-rate mortgage and the five-year fixed rate period has just expired. The loan was originally for $650,000 with 180 payments at 5% APR, compounded monthly. If the interest rate falls by 2%, from 5% to 3% APR, compounded monthly, by approximately how much will this reduce the monthly mortgage repayments?

Group of answer choices

$460.62

$207.14

$557.48

$361.17