Suppose youpurchase a home for $90,000 by paying a 20% down payment andsigning a 30 year mortgage. The fixed annual rate is 6% compounded monthly. After 20 years the market value is expected to be $125,000. What is the monthly payment? How much is needed to payoff the loan after 20 years (round to nearest dollar)? How much equity would you have at that time (to the nearest dollar)?

A.Monthly Pmt=$539.60

Payoff = $48604

Equity = $76396

B.Monthly Pmt=$431.68

Payoff = $60254

Equity = $64746

C.Monthly Pmt=$539.60

Payoff = $75318

Equity = $49682

D.Monthly Pmt=$431.68

Payoff = $51802

Equity = $73198

E.Monthly Pmt=$431.68

Payoff = $38883

Equity = $86117