You arrange a mortgage from the Pinder Bank of Australia. The amount you borrow is $870,000 with payments required on a monthly basis over the next 25 years with the first payment required one month from today. The interest rate quoted by the bank is 12% p.a. compounding monthly. Which of the following is closest to the principal owing immediately after you make your first payment? $779,211.53 $779,584.85 Need more information to answer the question $9,163.05 $869,536.95