i. ii. How much of the first month's payment was interest, and how much was principal? What was the total amount paid over the 25 years? 6. Electronic Instruments plans to establish a debt retirement fund. The company wants at least $29,200 in 6 years. Deposits of $4000 are to be made to a trustee each year. Can they meet these requirements if the interest rate falls to 6% compounded annually