Suppose you borrowed $45,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. By how much would you reduce the amount you owe in the first year? Select the correct answer. a. $9,840.09 b. $9,829.69 C. $9,824,49 d. $9,834.89 e. $9,819.29 Suppose you borrowed $45,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. By how much would you reduce the amount you owe in the first year? Select the correct answer. a. $9,840.09 b. $9,829.69 C. $9,824,49 d. $9,834.89 e. $9,819.29