After graduating from UCF, you plan to purchase a small condominium for $100,000. You will be required by the bank to put a down payment of 10% of the purchase price. You plan to finance the loan for...

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Extracted text: After graduating from UCF, you plan to purchase a small condominium for $100,000. You will be required by the bank to put a down payment of 10% of the purchase price. You plan to finance the loan for 15 years. Assume monthly payments and a nominal rate (monthly compounding) of 3%. What percentage of the first 25 payments goes toward paying principal? Approximately 66% Approximately 58% Approximately 25% Approximately 34% O Approximately 42%