Suppose you bought a condo and took out a 30-year, $100,000 amortized loan at a nominal rate of 8% with end-of-month payments. How much interest would you pay the 2^nd month?

a. $614.50

b. $627.04

c. $639.84

d. $652.90

e. $666.22

Suppose you bought a condo and took out a 30-year, $100,000 amortized loan at a nominal rate of 8% with end-of-month payments. How much would the remaining loan balance be at the end of the first month?

a. $99,624.55

b. $99,785.34

c. $99,932.91

d. $99,951.22

e. $99.988.77