Tuscarora Transportation Recently Signed a Seven-Year Loan of $350,000 with Annual

Multiple Choice

Tuscarora Transportation recently signed a seven-year loan of $350,000 with annual payments at the end of each year on four warehouses and the adjacent paved acreage at a 9% interest rate compounded annually. What is the total interest that will be paid by the end of the seven-year term?

A) $136,792
B) $668,450
C) $754,950
D) $1,761,550
E) $2,450,000