The Summer Breeze hotel borrowed $100,000 from the meadowlands bank to pay for a new air system. The loan is for a period of 5 years at an interest rate of 10% and requires 5 equal end of year payments that include both principal and interest on the outstanding balance. What will be the outstanding balance after the second payment?

a. $65,602.53

b. $45,225,87

c. $45,629.17

d. $23,981.59