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Suppose you borrowed $ 2 5 , 0 0 0 at a rate of 8 % and must repay it in 4 equal installments at

Suppose you borrowed $25,000 at a rate of 8% and must repay it in 4 equal installments at the end of each of the next 4 years. How much interest would you have to pay in the first year?
$2,081.87
$2,591.45
$2,324.89
$2,000.00
$2,854.13
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