Question: Lori borrows X for five years at an annual effective interest rate of 7%, to be repaid with equal payments at the end of each

Lori borrows X for five years at an annual effective interest

Lori borrows X for five years at an annual effective interest rate of 7%, to be repaid with equal payments at the end of each year. The outstanding loan balance at the end of the fourth year is 668.16 Calculate the principal repaid in the second payment Select one: O A 525 O B 535 O C 545 OD. 515 O E 555

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