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Campus Flights takes out a bank loan in the amount of $292,397 on March 1. The terms of the loan include a repayment of principal
Campus Flights takes out a bank loan in the amount of $292,397 on March 1. The terms of the loan include a repayment of principal in 12 equal installments, paid annually from March 1. The annual interest rate on the loan is 11%, recognized in year 1.
Compute the principal due in year 1 rounded to the whole dollar.
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