Question: After an especially booming year selling beavertails, you are looking to expand your store. To expand and renovate you will require a loan. After speaking with your good friend and wealthy businesswoman Karen, on January 1st 20x6 you both agree to a loan of $230087.45 as a note at 4.37%. You will pay Karen blended principal and interest payments of $48372.70 each December. With the payment on December 31 st 20x6, how much of the principal are you paying off? Select one:
$10054.82
$2113.89
$38317.88
$24186.35