Let's assume you borrowed $2000 from Wells Fargo Bank on July 1. The annual Percentage Rate...

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Let's assume you borrowed $2000 from Wells Fargo Bank on July 1. The annual Percentage Rate is 5%. The term is 2 years. After you paid the first month's payment (i.e., August 1), you received the tax return of $300 from the IRS on the same day. You used the tax return for the loan payment on the same day. The outstanding balance after the 8th, 9th, and 10th term payments is presented in the table below. What would be the outstanding balance after the 11th term payment? 8th 1045.91 9th 962.53 10th 878.80 Let's assume you borrowed $2000 from Wells Fargo Bank on July 1. The annual Percentage Rate is 5%. The term is 2 years. After you paid the first month's payment (i.e., August 1), you received the tax return of $300 from the IRS on the same day. You used the tax return for the loan payment on the same day. The outstanding balance after the 8th, 9th, and 10th term payments is presented in the table below. What would be the outstanding balance after the 11th term payment? 8th 1045.91 9th 962.53 10th 878.80