Sebhat takes out a 4 year mortgage for $975,000 at an interest rate of i₍₂₆₎ = 1.500%. The amortization period is 15 years and he will make weekly payments. What is the outstanding balance at the end of 3 years?

a.

$829,024.52

b.

$781,196.18

c.

$813,081.74

d.

$797,138.96

e.

$789,167.57