Question: show your work plz 3. James repays a loan with payments of $2,000 at the end of every two years. If the amount of interest

show your work plz 3. James repays a loan with payments of show your work plz

3. James repays a loan with payments of $2,000 at the end of every two years. If the amount of interest in the third installment is $1, 640, find the amount of principal in the seventh installment. Assume an annual effective interest rate of 10%. (A) 770 (B) 880 (C) 990 (D) 1,010 (E) 1, 110

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