Multiple Choice
You plan to borrow $30,000 at a 7% annual interest rate.The terms require you to amortize the loan with six equal end-of-year payments.How much interest would you be paying in Year 2?
A) $1,548.79
B) $1,630.30
C) $1,716.11
D) $1,806.43
Correct Answer:
Verified
Correct Answer:
Verified
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