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President LaForge recently purchased his first home in Cleveland, MS. The house has a 15-year, 165,000 mortgage. The mortgage has a nominal annual interest rate

President LaForge recently purchased his first home in Cleveland, MS. The house has a 15-year, 165,000 mortgage. The mortgage has a nominal annual interest rate of 7.75%. All mortgage payments are made at the end of the month.

What is the monthly payment on the mortgage?

Group of answer choices

$1,283.61

$1,065.63

$1,553.11

/41,581.97

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