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You plan to borrow $ 3 8 , 4 0 0 at a 6 . 7 % annual interest rate. The terms require you to

You plan to borrow $38,400 at a 6.7% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year payments. How much interest would you be paying in Year 2?
a. $2,302.43
b. $6,608.15
c. $7,050.90
d. $2,572.80
e. $2,272.77
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