Miah and Lisa, and their two dogs, decide to purchase a new home. The purchase price of the home is $320000. Miah and Lisa have decided to make a down payment of 30% and finance the remaining amount with a 15-year home mortgage loan with an annual percentage rate of 3.15% compounded monthly. Compute Miah and Lisa's monthly mortgage payment under this loan. Give your answer as a decimal rounded to the nearest hundredth.
A) $1007.26
B) $1256.84
C) $1493.95
D) $1563.11
E) None of the above.

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The Answer of Miah and Lisa, and their two dogs, decide to purchase a new home. The purchase price of the home is $320000. Miah and Lisa have decided to make a down payment of 30% and finance the remaining amount with a 15-year home mortgage loan with an annual percentage rate of 3.15% compounded monthly. Compute Miah and Lisa's monthly mortgage payment under this loan. Give your answer as a decimal rounded to the nearest hundredth.
A) $1007.26
B) $1256.84
C) $1493.95
D) $1563.11
E) None of the above.

Miah and Lisa, and Their Two Dogs, Decide to Purchase