Suppose you are buying your first house for $210,000, and are making a $20,000 down payment. You have arranged to finance the remaining amount with a 30-year, monthly payment, amortized mortgage at a 6.5% nominal interest rate, compounded semiannually. What will your equal monthly payments be?

a.

$1,083.84

b.

$1,183.84

c.

$1,190.16

d.

$1,260.98