Your monthly mortgage payment (principal plus interest) is $1,200. If you have a 15-year loan with a

Question:

Your monthly mortgage payment (principal plus interest) is $1,200. If you have a 15-year loan with a fixed interest rate of 2% per month, how much did you borrow from the bank to purchase your house? Select the closest answer.
(a) $154,00
(b) $180,00
(c) $250,00
(d) $300,00
(e) $540,00