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You plan to borrow $ 4 3 , 0 0 0 at a 7 . 5 % annual interest rate. The terms require you to

You plan to borrow $43,000 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? PLEASE SHOW HOW TO SOLVE USING A FINANCIAL CALCULATOR
Select the correct answer.
a. $2,857.99
b. $2,870.39
c. $2,851.79
d. $2,864.19
e. $2,845.59

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