Question: You plan to borrow $ 3 2 , 1 0 0 at a 7 . 6 % annual interest rate. The terms require you to

You plan to borrow $32,100 at a 7.6% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year payments. How much interest would you be paying in Year 2? a. $2,195.47 b. $5,651.89 c. $2,439.60 d. $6,081.43 e. $2,162.82

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