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You plan to borrow $39,000 at a 6.8% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year payments. How

You plan to borrow $39,000 at a 6.8% 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. $7,186.20

b. $2,374.79

c. $2,343.67

d. $2,652.00

e. $6,728.65

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