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How much interest is to be paid in the second year of a 6-year loan of $100,000 with payments occurring at the end of each
How much interest is to be paid in the second year of a 6-year loan of $100,000 with payments occurring at the end of each month, and a 6% annual interest rate compounded monthly?
I keep getting the wrong answer. I am not sure what I am doing wrong.
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