Blue Paper Corporation is making payments on an 8 percent, $40,000, 10 year installment note (quarterly payments of $1,462.23 (per quarter)). How much of the second payment is interest expense?

Find second number in the value of interest expense associated with the second payment.

Interest Expense (Second Payment) => ____ __?__ _____

Number => 8 or 9

Number => 2 or 3

Number => 0 or 1

Number => 4 or 5

Number => 6 or 7