Current Attempt in Progress You borrow \(\$ 6,150\) at \(10\%\) per year and will pay off the loan in three equal annual payments starting 1 year after the loan is made. The end-of-year payments are \(\$ 2,473.01\). Which of the following is true for your payment at the end of year 2? Interest is \(\$ 224.82\) and principal is \(\$ 2,248.19\). Interest is \$554.00 and principal is \$1,919.01. Interest is \$429.20 and principal is \$2,043.81. Interest is \$615.00 and principal is \$1,858.01. Click here to access the TVM Factor Table Calculator eTextbook and Media Current Attempt in ProgressA debtor offers to repay a debt by making a payment of \(\$ 600\) one year from today, \(\$ 3,200\) three years from today, and \(\$ 4,000\) four years from today. The lending agency would rather receive the money in 4 equal end of year payments. Assuming a TVOM of 8\%, how much would the debtor need to pay to make these cash flows equivalent?Click here to access the TVM Factor Table calculator.\$Carry all interim calculations to 5 decimal places and then round your final answers to a whole number. The tolerance is \(\pm 2\).eTextbook and Media Current Attempt in ProgressRashida purchases a house for \$320,000 and takes a mortgage for the full amount. Her mortgage charges 7\% per year and interest is compounded monthly. She will repay the loan over 25 years with equal monthly payments. How much of the 1st payment would be applied toward interest and how much of the 1st payment would be principal?Click here to access the TVM Factor Table calculator.Interest =\$Principal =\$Carry all interim calculations to 5 decimal places and then round your final answers to a whole number. The tolerance is \(\pm 2\).eTextbook and Media Current Attempt in ProgressThe City of State College plans to issue bonds with a par value of \(\$ 1,000\) that will issue \(5\%\) quarterly payments for 5 years. If a purchaser wants earn 3\% per quarter over the lifetime of the bond, how much would the purchaser be willing to pay for the bond?Click here to access the TVM Factor Table calculator.\$Carry all interim calculations to 5 decimal places and then round your final answer to a whole number. The tolerance is \(\pm 5\).eTextbook and MediaAttempts: 0 of 3 used View PoliciesCurrent Attempt in ProgressWhat is the future value of the following cash flow?1Click here to access the TVM Factor Table calculator.\$Carry all interim calculations to 5 decimal places and then round your final answer to a whole number.eTextbook and Media