21) You borrow $7,500 at 7%. This loan requires equal annual payments for 10 years. The principal that you will repay in the second year of this loan is: A) $580.83 B) $450.25 C) $1,067.83 D) $525.00 E) $617.58 22) You plan on saving $10,000 per year for 35 years, with the first payment today. At 8% annual interest, you expect the compounded value of your savings to accumulate to the following value on the first anniversary after your last payment: A) $1,723,168.04 B) $350,000.00 C) $1,861,021.48 D) $1,871,021.48 E) $2,030,703.20