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You plan to borrow $ 4 0 , 9 0 0 at a 7 . 5 % annual interest rate. The terms require you to

You plan to borrow $40,900 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 ()q, a. $7,183.19
b. $2,758.82
c. $7,721.93
d. $2,718.42
e. $3,067.50
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