Use an Amortization Table to Solve the Problem $\$ 51,000$ Loan At

Multiple Choice

Use an amortization table to solve the problem. Round to the nearest cent.
-The monthly payments on a $\$ 51,000$ loan at $11 \%$ annual interest are $\$ 486.03$ . How much of the first monthly payment will go toward interest?

A) $\$ 53.46$
B) $\$ 561.00$
C) $\$ 467.50$
D) $\$ 432.57$