Question 7 Not yet saved Marked out of 4.00 P Flag question You borrow $500,000 to buy a house worth $625,000. The interest rate is 3% pa compounding monthly. The loan term is 30 years with an: -interest-only period for the first 3 years (months 1 to 36 inclusive); switching to -fully amortising for the remaining 27 years (months 37 to 360 inclusive). A loan repayment schedule is shown below, with some parts missing in bold. Loan Repayment Schedule Interest-only for first 3 years, switching to fully amortising for remaining 27 years, interest rate of 3% pa paid monthly Liability, Total Interest Principal Time just after payment componentcomponent payment Month $/month $/month $/month $ 0 500,000.00 1 1,250.00 1,250.00 0.00 500,000.00 2 1,250.00 1,250.00 0.00 500,000.00 36 0.00 500,000.00 37 b 1,250.00 1,250.00 2,253.50 a 2,253.50 d 2,253.50 1,244.98 38 ? 39 1,008.53 496,981.96 356 2,258.57 28.02 2,230.55 8,978.08 357 2,258.57 22.45 2,236.12 6,741.96 358 2,258.57 16.85 2,241.71 4,500.25 2,247.32 2,252.93 359 2,258.57 11.25 356 2,258.57 28.02 2,230.55 8,978.08 2,236.12 6,741.96 357 2,258.57 22.45 358 2,258.57 16.85 2,241.71 4,500.25 359 2,258.57 11.25 2,247.32 2,252.93 360 2,258.57 5.63 2,252.93 0.00 Which of the below statements is NOT correct? All answer options are rounded to 2 decimal places as is the table above. Select one: a. The interest component at month 37 is $1,250.00. b. The principal component at month 37 is $1,003.50. c. The amount owing just after the payment at month 37 is $498,996.50. d. The interest component at month 38 is $1,247.49. e. The amount owing just after the payment at month 38 is $497,749.01