Pace Co. borrowed $10,000 at a rate of 7.25%, simple interest, with interest paid at the end of each month. The bank uses a 360 -day year. How much interest would Pace have to pay in a 30-day month? $57.40$47.13$60.42$73.10 QUESTION 14 You plan to borrow $47,400 at a 7.5% annual interest rate. The ternfls require you to amortize the loan with 7 equal end-of-year payments. How much interest would you be paying in Year 2? $2,520.35 $2,835.40$2,992.92$3,150.44