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$10,000 is borrowed, to be repaid in four equal, annual payments with 8% interest. Approximately how much principal is amortized with the first payment? A.

$10,000 is borrowed, to be repaid in four equal, annual payments with 8% interest. Approximately how much principal is amortized with the first payment? A. $800

B. $2,219

C. $2,500

D. $3,281

Give me an explanation for the answer, and the written formula to find the answer

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