Question: Find the amount applied to principle for the third month of a 4-year loan of $24,400 which charges 4.4 percent compounded monthly with monthly payments.

Find the amount applied to principle for the third month of a 4-year loan of $24,400 which charges 4.4 percent compounded monthly with monthly payments.

The amount applied to principle for the third month is

(Round to the nearest cent.) _______

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