Question: You plan to borrow $ 4 3 , 5 0 0 at a 7 . 3 % annual interest rate. The terms require you to

You plan to borrow $43,500 at a 7.3% 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. $7,601.29
b. $8,156.18
c. $3,175.50
d. $2,852.42
e. $2,811.91

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