On the day you graduate from college you borrow $$35,000$ from your local bank for five years at $6\%.$ The terms stipulate that you will have to pay back in five equal annual installments. How much will you pay the bank in year $2$ for loan repayment?

Multiple Choice

$$7,420\mathrm{.}00$

$$7,000\mathrm{.}00$

$$8,502\mathrm{.}67$

$$7,965\mathrm{.}33$

$$8,308\mathrm{.}87$