Question: You plan to borrow $ 5 0 , 0 0 0 at an 8 . 2 % annual interest rate. The terms require you to

You plan to borrow $50,000 at an 8.2% 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. $9,669.41 b. $3,643.31 c. $8,936.61 d. $3,703.40 e. $4,100.00

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