John and Peggy recently bought a house. They financed the house with a $295,000, 30-year mortgage with a nominal interest rate of 9.79%. Mortgage payments are made at the end of each month. What total dollar amount of their mortgage payments during the first 8 years will go towards repayment of principal?

Question 17 options:

	$224,381.14
	$19,763.71
	$18,060.47
	$249,579.15
	$25,462.38