Hi, I've also got this one that I can't seem to understand how to apply the coreect formula, if you could please explain, that would be perfect. Thanks!

Robert borrows $10,500 from a bank at 11 percent annually compounded interest to be repaid in six equal annual installments. The interest paid in the second year is

A. $1,155.

B. $2,482.

C. $882.

D. $1,009.

E. $1,472.