(Present Value)

Question 2 1 pts You purchase a new yacht worth $935,000 by making a $200,000 down payment and financing the remaining balance with a 10-year loan charging annual interest at a rate of 8.5%, compounded monthly. How much of your first monthly payment is applied to the principal? Round your answer to the nearest cent. $3906.70 $5206.25 O $9112.95 O $4969.74 O $6622.92