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 1 is $2,400.

b. The principal component at month 1 is $1,237.16.

c. The amount owing just after the payment at month 1 is $798,762.84.

d. The interest component at month 359 is $21.69.

e. The principal component at month 359 is $3,615.44.

You borrow $800,000 to buy a house worth $1,000,000. The interest rate is 3.6% pa compounding monthly and the fully amortising loan term is 30 years. A loan repayment schedule is shown below, with some parts missing in bold. Loan Repayment Schedule Interest rate of 3.6% pa paid monthly, 30 year term Total Liability, Interest Time payment component component just after payment Month $/month $/month $/month $ Principal 0 800,000.00 1 (a) (b) (c) 3,637.16 2 3,637.16 2,396.29 1,240.87 797,521.96 3 3,637.16 2,392.57 1,244.60 796,277.37 4 3,637.16 2,388.83 1,248.33 795,029.04 5 1,252.08 793,776.96 3,637.16 2,385.09 6 3,637.16 2,381.33 1.255.83 792,521.13 7 3,637.16 2,377.56 1,259.60 791,261.53 8 3,637.16 2,373.78 1,263.38 789,998.15 356 3,583.09 14,440.19 3,637.16 54.07 357 3,637.16 43.32 3,593.84 10,846.35 358 3,604.627,241.72 3,637.16 32.54 359 (d) (e) ? 3,637.16 360 3,626.28 0.00 3,637.16 10.88