You Obtain a $265,000, 15-Year Fixed-Rate Mortgage

You obtain a $265,000, 15-year fixed-rate mortgage. The annual interest rate is 6.25%. In addition to the principle and interest paid, you must pay $275 a month into an escrow account for insurance and taxes. What is the total monthly payment (to the nearest dollar) ?

A) $2,272
B) $1,632
C) $2,547
D) $1,907
E) $2,311 265,000 = [Pmt * PVIFA (0.0625/12, 180 months) ] + 275 = 2,547