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You plan to borrow $ 4 5 , 8 0 0 at a 7 . 5 % annual interest rate. The terms require you to

You plan to borrow $45,800 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?
a. $3,435.00
b. $3,044.10
c. $8,043.77
d. $3,089.34
e. $8,647.05

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