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Question 2 (10 points) Assume that you borrow $50,000 for ten years at an interest rate of 6.7% per year. If the loan has annual

Question 2 (10 points)

Assume that you borrow $50,000 for ten years at an interest rate of 6.7% per year. If the loan has annual payments, what is the amount of principal in the first payment?

Question 2 options:

$3,471.24

$4,058.68

$3,670.48

$3,545.12

$3,756.48

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