Frank purchased his house 16 years ago by taking out a 25-year mortgage for $150,000. The mortgage has a fixed interest rate of 5 percent compounded monthly. If he wants to pay off his mortgage today, how much money does he need? He made his most recent mortgage payment earlier today.

a.$85,024.66

b.$70,856.65

c.$80,425.21

d.$76,136.95

e.$65,459.98