You have today taken a 25-year, $100,000 mortgage loan at 12% annual interest rate, to be repaid in equal monthly payments at each month-end over 25 years. What will be the monthly payment?

Question options:

a)	$333.32
b)	$1,082.50
c)	$1,042.80
d)	$1,333.32
e)	None of the above

Refer to Question above. What will be the principal outstanding at the end of 5 years from today (i.e. after the 60^th monthly payment)?

Question options:

a)	$36,806.80
b)	$82,725.75
c)	$98,436.24
d)	$95,653.55
e)	None of the above