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42.You are borrowing $100,000 at 5% interest EAR to be repaid over 20 years in equal annual payments of blended principal and interest. Each payment

42.You are borrowing $100,000 at 5% interest EAR to be repaid over 20 years in equal annual payments of blended principal and interest. Each payment is $8,024.26. Payments are to be made at the end of each of the next 20 years. What is the interest component of the 12th payment?

Select one:a. $2,556.61b. $3,298.77c. $1,225.93d. $2,851.75e. None of the above

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