Suppose you are buying your first condo for $239,000 and you will make a $48,000 down payment. You have arranged to finance the remainder with a 30-year, monthly payment, amortized mortgage at a 2.75% nominal interest rate, with the first payment due in one month. What will your monthly payments be?

a. $517.3

b. $838.52

c. $1040.14

d. $850.48

e. $779.74