Clara borrows $700 at 8% effective that she repays using the amortization method. She makes payments of $186, $366, and

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answerhappygod
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Clara borrows $700 at 8% effective that she repays using the amortization method. She makes payments of $186, $366, and

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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 her outstanding loan balance after the 1st
payment.
A 514
B 570
C 575
D 580
E 644
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