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You plan to borrow $ 3 4 , 8 0 0 at an 8 . 4 % annual interest rate. The terms require you to

You plan to borrow $34,800 at an 8.4% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year payments. How much interest wound you be paying in Year 2?
a. $2,643.68
b. $2,923.20
c. $2,599.58
d. $6,775.83
e. $6,250.77
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