Hayley makes annual end-of-year payments of $6,260.96 on a five-year loan with an 8 percent interest rate.
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Question:
Hayley makes annual end-of-year payments of $6,260.96 on a five-year loan with an 8 percent interest rate. The original principal amount was ________.
$31,000
$30,000
$20,000
$25,000
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