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We committed to repay a loan in 34 equal semi-annual installments of $ 425. Immediately after the 7th installment, the balance owing is $ 7,073.10.

We committed to repay a loan in 34 equal semi-annual installments of $ 425. Immediately after the 7th installment, the balance owing is $ 7,073.10. If the first payment was made at the end of the 1st semester, how much was the amount borrowed?

A. $ 9,437.38

B. $ 8,579.19

C. $ 8,003.15

D. $ 10,048.10

E. $ 7,794.29

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