Question: Consider a 5 - year amortized loan with a fixed annual payment o f $ 1 , 0 0 0 , and a n APR

Consider a5-year amortized loan with a fixed annual payment of $1,000, and an APR of8%.At the start of the second year, the outstanding principal balance is $3,312. What is the amount of principal paid off during the second year?
Group of answer choices
1,000
90
213
708
735

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