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A loan of X is to be repaid with equal Please solve by hand writing Question 11.07 A loan of X is to be repaid

A loan of X is to be repaid with equal

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Please solve by hand writing

Question 11.07 A loan of X is to be repaid with equal payments at the end of each year for 5 years. The outstanding loan balance at the end of the fourth year is 911.74. The annual effective interest rate of the loan is 7%. Calculate the principal repaid with the first payment. A 0 B 400 C 696 D 912 E 976

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