Question: please show work! You plan to borrow $45,200 at a 7.5% annual interest rate. The terms require you to amortize the loan with 7 equal

please show work!

You plan to borrow $45,200 at a 7.5% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year payments. How much principal would you be paying in Year 2? How much interest would you be paying in Year 1? Hint: construct an amortization schedule for the first two years to get the answers

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