John and Susan purchased a house in NY state Ove years ago. The pur- chasing price of the house was $600,000. The couple made a down payment of$125,000, and they were approved for a 30-year mortgage. The terms of the mortgage are as follows. There are 360 level monthly payments, with the excep- tion of the Onal payment being slightly reduced. The nominal interest rate is 3% convertible monthly. They recently sold the house for $650,000 immediately after the 60th mortgage payment. They also need to pay 6% of the selling price to the real estate agents. How much cash can they receive after paying mortgage balance and real estate agent commission, assuming there is no other cost?

a) 170,000-175,000 (b) 175,000-180,000 (c) 180,000-185,000 (d) 185,000-190,000 (e) 190,000-195,000

$125,000, and they were approved for a 30-year mortgage. The terms of the mortgage are as follows. There are 360 level monthly payments, with the excep- tion of the final payment being slightly reduced. The nominal interest rate is 3% convertible monthly. They recently sold the house for $650,000 immediately after the 60th mortgage payment. They also need to pay 6% of the selling price to the real estate agents. How much cash can they receive after paying mortgage balance and real estate agent commission, assuming there is no other cost? (a) 170,000-175,000 (b) 175,000-180,000 (c) 180,000-185,000 (d) 185,000-190,000 (e) 190,000-195,000