Multiple Choice
You plan to borrow $39,000 at a 7.5% annual interest rate.The terms require you to amortize the loan with 7 equal end-of-year payments.How much interest would you be paying in Year 2?
A) $2,073.71
B) $2,332.92
C) $2,462.53
D) $2,592.13
E) $2,980.95
Correct Answer:
Verified
Correct Answer:
Verified
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