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13. You plan to borrow $43,700 at a 7.5% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year payments.
13. You plan to borrow $43,700 at a 7.5% 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. $2,323.62 b. $2,614.07 c. $2,759.29 d. $2,904.52 e. $3,340.20
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