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Maria obtained a loan of $312,000 which is to be repaid in equal annual payments over 15 years. The interest rate is 7 percent, compounded

Maria obtained a loan of $312,000 which is to be repaid in equal annual payments over 15 years. The interest rate is 7 percent, compounded annually. What is the amount of interest that is included in the loan payment for Year 3? Multiple Choice $13,617.56 $18.421.85 $20,040.93 $21,221.07

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