Suppose you are buying your first condo for $110,000, and you will make a $15,000 down payment. You have arranged to finance the remainder with a 30-year, monthly payment, amortized mortgage at a 6.5% nominal interest rate, with the first payment due in one month. What will your monthly payments be?

Group of answer choices

$510.39

$558.43

$600.46

$546.42

$588.46