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A 20-year loan for 1,000,000 is being repaid with level annual payments using the amortization method. The interest rate on the loan is 5% annual

A 20-year loan for 1,000,000 is being repaid with level annual payments using the amortization method. The interest rate on the loan is 5% annual effective.

Find the total amount of principal paid in the first 5 years.

A 80,242

B 110,472

C 130,349

D 167,109

E 205,707

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