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Suppose you take a three-year loan of $100,000 at an interest rate of 10%. You make quarterly fixed principal payment. Your roommate takes a loan
Suppose you take a three-year loan of $100,000 at an interest rate of 10%. You make quarterly fixed principal payment. Your roommate takes a loan with the same principal, interest rate, maturity and payment frequency, but with fixed equal payments. What is the difference between the interest payment by you versus the interest payment by your roommate in the second payment?
A. $876.29 B. $27.12 C. $0.00
D. -$27.12 E. -$876.29
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