Phantom Limited borrows $150,000 at an interest rate of 12% per annum compounding monthly, repayable by equal monthly instalments over 30 years. Calculate the principal and interest components of the first repayment.

	a.	For the first repayment, the principal component is $101.09 and interest component is $1,200.
	b.	For the first repayment, the principal component is $42.92 and interest component is $1,500.
	c.	For the first repayment, the principal component is $42.92 and interest component is $1,800.
	d.	For the first repayment, the principal component is $151.63 and interest component is $1,500.