Suppose you borrowed $$40,000$ at a rate of $8\mathrm{.}5\%$ and must repay it in $5$ equal installments at the end of each of the next $5$ years. By how

much would you reduce the amount you owe in the first year?

Select the correct answer.

a$.$ $$6,728\mathrm{.}73$

b$.$ $$6,750\mathrm{.}63$

c$.$ $$6,757\mathrm{.}93$

d$.$ $$6,736\mathrm{.}03$

e$.$ $$6,743\mathrm{.}33$