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You plan to borrow $ 3 9 , 0 0 0 at a 7 . 5 % annual interest rate. The terms require you to

You plan to borrow $39,000 at a 7.5% 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?
$2,592.13
$2,073.71
$2,462.53
$2,332.92
$2,980.95
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