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A loan has a beginning balance of $9,443. The interest rate is 3.31% per year and the amortization period is 9 years. How much principal

A loan has a beginning balance of $9,443. The interest rate is 3.31% per year and the amortization period is 9 years.

How much principal is paid in the first year of the loan?

Round your answer to 2 decimal places. (For example 2.437 = 2.44)

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