You borrowed some money on a thirty-year mortgage at 3.5%, compounded monthly. Your payments are $950 per month. How much will you pay in interest in the sixth year of this mortgage?

Group of answer choices

$6,565

$7,119

$7,299

$6,933

b)

how much principal does the homeowner pay the first year?

Group of answer choices

$7,340

$4,060

$7,033

$4,835