You borrow $60,000. The loan is structured as an amortized loan to be repaid over four years with annual (end-of- period) payments of $19,629.39 per year. The lender is charging you a rate of 11.7% APR. At the end of the second year, how much principal remains owing? $33,305.92 $29,609.39 $31.978.28 $33,744.18 $37,390.61