Question 27-28 use the following information:

A 30-year fixed rate mortgage was made for $80,000 at 6% interest rate. Your monthly payment is $479.64.

Question 27 (4 points)

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What is your outstanding loan balance at the end of year 10?

Question 27 options:

	$66,948
	$7,994
	$42,780
	$42,203

Question 28 (4 points)

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Your outstanding loan balance at the beginning of Month 50 is $75,489. What is your principal payment in that month?

Question 28 options:

	$150.83
	$102.2
	$328.81
	$377.45