You want to buy a house that costs $265,000. You will make a down payment equal to 15 percent of the price of the house and finance the remainder with a loan that has an interest rate of 5.41 percent compounded monthly. If the loan is for 25 years, what are your monthly mortgage payments?

a.$1,365.00

b.$1,439.71

c.$1,371.15

d.$1,325.45

e.$1,387.09