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You obtain a loan of $3,000 based on simple interest with an annual interest rate of 12 percent, or 1% a month. If the first

You obtain a loan of $3,000 based on simple interest with an annual interest rate of 12 percent, or 1% a month. If the first payment is $300, how much is the principal portion of the payment? Question 12 options: $270 $280 $27 $295

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