15.The bank has agreed to give you a mortgage for $400,000 to buy a new house. Current mortgage rates have an APR of 4% compounded semi-annually for a term of 25 years. How much of the third payment will go toward paying down principal?

Select one:

a. $786.90

b. $530.33

c. $481.34

d. $639.75

e. None of the above