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Suppose you borrowed dollar 15, ooo at a rate of 11.8 percentage and must repay it in 5 equal installments at the end of each

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Suppose you borrowed dollar 15, ooo at a rate of 11.8 percentage and must repay it in 5 equal installments at the end of each of the next 5 years. How much interest would you have to pay in the first year? dollar 1, 893.90 dollar 1, 557.60 dollar 1, 770.00 dollar 1, 362.90 dollar 1, 716.90

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