Suppose a loan which accumulates interest at a nominal annual rate of 3.47% compounded monthly is repaid through level monthly payments of $2444 over a period of 7 years. Determine the following: (a) The outstanding balance at the end of period 38. (b) The amount of principal repaid during period 50. (A) 105180.32 (B) 105098.27 (C) 105207.67 (D) 105152.97 (E) 105125.62 s(a): E 1 Part (a) choices. (A) 2205.50 (B) 2212.64 (C) 2201.93 (D) 2198.36 (E) 2209.07