A small engineering firm borrows $300,000 at 0.7% per month interest. If the firm makes a pay-

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A small engineering firm borrows $300,000 at 0.7% per month interest. If the firm makes a pay- ment of $50,000 at the end of the first month, the unrecovered loan balance immediately after the payment is made is closest to: a. $187,900 c. $224,600 b. $198,300 d. $252,100