Question: Suppose you borrowed $ 1 , 0 0 0 at a rate of 1 0 . 0 % and must repay it in 3 equal

Suppose you borrowed $1,000 at a rate of 10.0% and must repay it in 3 equal installments at the
end of each of the next 3 years. How much interest would you have to pay in the second year?
a. $130
b. $120
c. $70
d. $100
Suppose you borrowed $1,000 at a rate of 10.0% and must

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