quesiton 5

You are buying your first house for $220,000, and are paying $30,000 as a down payment. You have arranged to finance the remaining $190,000 30-year mortgage with a 7 percent nominal interest rate and monthly payments. What are the equal monthly payments you must make if payments are made at the beginning of each period? (round answer to nearest dollar) a. $1, 513 b. $1, 110 c. $1, 257 d. $1.976 e. $1, 349