Upon graduation, you want to buy a modest condominium apartment rather than pay rent. The unit is selling for $250,000. Your family will help you with the down payment of $100,000 and you would have to borrow the rest from a bank with the current annual interest rates of 3% APR compounded monthly. You want to pay off this loan completely in 15 years and want to know if you can afford to purchase. What would be the closest monthly payment:

A. $ 691 B. $ 698 C. $1,047 D. $1,745