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Lou Lewis borrows $10,000 to be completely repaid over 10 years at 8%. Repayment of principal in the first year is ____. (Please Explain Work

Lou Lewis borrows $10,000 to be completely repaid over 10 years at 8%. Repayment of principal in the first year is ____. (Please Explain Work Done To Get Answer)

A. $1,493

B. $693

C. $690

D. $885

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