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Your brother - in - law asks you to lend him $ 2 0 0 0 0 0 . 0 0 as a second mortgage

Your brother-in-law asks you to lend him $200000.00 as a second mortgage on his vacation home. He promises to make level monthly payments for 10 years, 120 payments in all. You decide that a fair interest rate is 6.00% compounded annually. What should the monthly payment be on the $200000.00 loan?
$2220.41
$1766.67
$2264.47
$2168.14
$1666.67

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