A lender makes a loan of $100,000 at a 6% interest rate for 25 years with monthly payments. The lender will require an origination fee of $1,000 and will also discount the loan by some amount.

PART D- What will the outstanding balance of the loan be after eight years assuming you make the first 96 payments exactly on time?

a. $78,832

b. $79,627

c. $82,276

d. $84,707

e. $86,760