Question 1 (7 points) You borrow $8000 at 12.0% per year and will pay off the loan in 3 equal annual payments starting one year after the loan is made. What is the interest payment at the end of Year 2? Note: Round the answer to O decimal places (i.e. nearest dollar). Your Answer: Answer Question 2 (7 points) DEF Company is considering leasing a piece of equipment per the following terms: 8.5% APR compounded annually Purchase price - $2,000,000 Terms - 8 years fully amortized with equal quarterly payments The lease payment is closest to: (8 Points) $268,205 $85.971