Your brother-in-law asks you to lend him $150000.00 as a second mortgage on his vacation home. He promises to make level monthly payments for 25 years, 300 payments in all. You decide that a fair interest rate is 6.00% compounded annually. What should the monthly payment be on the $150000.00 loan?

A)$966.45 B)$530.00 C)$977.83 D)$960.97 E)$500.00