Question: Teffan borrows $ 4 , 5 0 0 from the bank at 9 percent annually compounded interest to be repaid in three equal annual installments.

Teffan borrows $4,500 from the bank at 9 percent annually compounded interest to be repaid in three equal annual installments. The interest paid in the third year is _________.
Group of answer choices
$277.95
$405.00
$352.00
$147.00

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