Question: Find the amount applied to principle for the third month of a 4-year loan of $21,000 which charges 4.7 percent compounded monthly with monthly payments.

Find the amount applied to principle for the third month of a 4-year loan of $21,000 which charges 4.7 percent compounded monthly with monthly payments. The amount applied to principle for the third month is $____ enter your response here (Round to the nearest cent.)

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