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- 10 Homework Assignment Help Save & Exit S Check my w Sanders Co. is planning to finance an expansion of its operations by borrowing $47,300. City Bank has agreed to loan Sanders the funds. Sanders has two repayment options: (1) to issue a note with the principal due in 10 years and with interest payable annually or (2) to issue a note to repay $4.730 of the principal each year along with the annual interest based on the unpaid principal balance. Assume the Interest rate is 10 percent for each option 2:59:09 Required a. What amount of Interest will Sanders pay In Year 1 under option 1 and under option 2? (Round your final answers to the nearest dollar amount.) Amount of 1 Under option 1 Under option 2 b. What amount of interest will Sanders pay In Year 2 under option 1 and under option 27 (Round your final answers to the near dollar amount) Amount of