Question: Clara borrows$700 at 8% effective that she repays using the amortization method. She makes payments of$186,$366, and$269.57 at the end of years 1, 2, and

Clara borrows$700 at 8% effective that she repays using the amortization method. She makes payments of$186,$366, and$269.57 at the end of years 1, 2, and 3, respectively.

Determine the amount of principal repaid in the second payment.

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