Suppose you borrowed $260,000 at a rate of 4.29% and must repay it in 5 equal installments at the end of each of the next 5 years. By how much would you reduce the amount you owe (l.e., principal) in the first year? 4. 548.296.27 b. $47725.67 c. $41,911.37 d. $45,999.77 c. 547,629.37