After three years ended, the amount of the principal that has been paid off is: c. $19,827.08.
Principal amount
Using this formula
Principal amount paid=Loan amount-Outstanding balance at 36 months
Let plug in the formula
Principal amount paid=$27,800.00 - $7972.92
Principal amount paid=$19,827.08
Therefore the amount of the principal that has been paid off is: c. $19,827.08.
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