Question: How much interest do the borrowers in Problem 12 pay during the second year of the loan? In Problem 12, determine the monthly payment for

How much interest do the borrowers in Problem 12 pay during the second year of the loan?
In Problem 12, determine the monthly payment for a sixty-month truck loan with an annual percentage rate of 11% and an initial principal of $17,000. How much interest is paid over the life of the loan?

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