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You have just taken out an installment loan for $ 1 0 0 , 0 0 0 . Assume that the loan will be repaid

You have just taken out an installment loan for $100,000. Assume that the loan will be repaid in 12 equal monthly installments of $9,456 and that the first payment will be due one month from today. How much of your fourth monthly payment will go toward the repayment of principal?
Question 7 options:
$6,359.12
$8,333.33
$7,757.16
$7,212.50
$7,912.30

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