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You plan to borrow $39,200 at a 7.4% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year payments. How

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You plan to borrow $39,200 at a 7.4% 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. $2,569.68 b. $6,867.26 C. $7,375.44 d. $2,900.80 O e. $2,607.28

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