You plan to borrow $$30,000$ at a $7\%$ annual interest rate. The terms require you to amortize the loan with $6$ equal end$-$of$-$year payments. How much interest would you be paying in Year $2?$

You plan to borrow $$30,000$ at a $7\%$ annual interest rate. The terms require you to amortize the loan with $6$ equal end$-$of$-$year payments. How much interest would you be paying in Year $2?$

$$1,630\mathrm{.}30$

$$1,896\mathrm{.}75$

$$1,548\mathrm{.}79$

$$1,806\mathrm{.}43$

$$1,716\mathrm{.}11$