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Camp Crazy obtained a $200,000, 5%, six-year loan for a new camp bus on January 1, 2020. Camp Crazys monthly payment amount for this loan

Camp Crazy obtained a $200,000, 5%, six-year loan for a new camp bus on January 1, 2020. Camp Crazys monthly payment amount for this loan is $3,220.99. How much interest expense will Camp Crazy record for the first monthly installment payment on January 31, 2020?

Group of answer choices

$1,000.00

$138.89

$833.33

$694.44

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