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Allyson obtained a $100,000 mortgage on January 1, 2018, to be paid in 360 monthly installments at a 9% nominal interest rate compounded monthly. The

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Allyson obtained a $100,000 mortgage on January 1, 2018, to be paid in 360 monthly installments at a 9% nominal interest rate compounded monthly. The first payment was due February 1, 2018. Determine which payment is the first where the principal repaid exceeds the interest paid. Possible Answers A 268th B 269th C 293rd D 294th E 353rd

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