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A person took a $40.000 loan from a bank and he paid back $12,000 by the end of first year. With a compound interest of

A person took a $40.000 loan from a bank and he paid back $12,000 by the end of first year. With a compound interest of 7%/period (period= 1 year), how much principle did this person pay at the end of first year? O A. $12,000 B. $2,800 OC. $9.200 OD. $8,400

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