Question: A borrower is repaying a loan at 8% effective with payments at the end of each year for 10 years such that the payment the

A borrower is repaying a loan at 8% effective with payments at the end of each year for 10 years such that the payment the first year is $500 the second year $450, and so forth, until the 10th year it is 550. Find the principal paid in the shath payment, A 199.64 B. 224.73 C. 269.31 D. 301.85 E. 415.67

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