[The Following Information Applies to the Questions Displayed Below

Multiple Choice

[The following information applies to the questions displayed below.]

On January 1, Year 1, The Palms borrowed $200,000 to purchase a warehouse by agreeing to a 8%, 5-year note with the bank. Payments of $50,091.29 are due at the end of each year. The first payment will be made on December 31, Year 1.


-How much will the company still owe on the loan at the end of Year 2? (Round your final answer to the nearest dollar. )

A) $186,727
B) $184,000
C) $129,090
D) $165,910