Not sure where I'm going wrong on this one. Any help would be greatly appreciated. Thx!

Kim has just graduated from law school. She had taken an education loan of $45,000, which now must be repaid in equal monthly installments over the next six years. What is the amount of the monthly loan repayment, if the loan carries a simple annual interest of 5 percent? The first payment will be made in one month.

$689.76

$721.71

$702.46

$658.92

$724.72