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Question 15- You borrowed $250,000 exactly 5 years ago.The loan is structured as an amortized loan.The interest rate is 5% and you make quarterly (end-of-quarter)

Question 15-

You borrowed $250,000 exactly 5 years ago.The loan is structured as an amortized loan.The interest rate is 5% and you make quarterly (end-of-quarter) payments of $4,393.57.The loan is amortized over 25 years.

How much principal have you paid over the first 5 years? (nearest dollar.)

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