Question: This is a problem for the Financial Calculator. The answer is A, according to the answer sheet. Please show all work. 8) You have borrowed

This is a problem for the Financial Calculator. The answer is A, according to the answer sheet. Please show all work.

This is a problem for the Financial Calculator. The answer is A,

8) You have borrowed $70,000 to buy rental property. You plan to make monthly payments over a 15 year period. The bank has offered you a 6% interest rate compounded monthly. Calculate the principal paid to the bank in the second monthly payment. Round the answer to $ 0.1 A) $241.9)$191.4$193D)$186.3

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