Denis took a $592645, 21-year bank loan at j12=7.33% p.a. to purchase an investment property. He agreed to make payments consistently at the end of each month. Denis learnt that you are studying financial maths, so he asked you to determine (without making a huge amortization table) the principal portion from the payment in month 193.

a. $1412.43

b. $231230.17

c. $4614.72

d. $3202.29