Your rent of $1,500 is due today, but because of the Covid-19 pandemic you have lost your job and cannot pay it. Your landlord offers to let you pay this month's rent as 5 equal monthly payments, starting today. If the interest rate is 5% APR compounded monthly, how big are the payments?

Group of answer choices

$303.76

$302.50

$314.60

$315.91