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You plan to borrow $42,900 at a 7.5% annual interest rate. The terms require you to amortize the loan with 7 equal endof-year payments. How

You plan to borrow $42,900 at a 7.5% annual interest rate. The terms require you to amortize the loan with 7 equal endof-year payments. How much interest would you be paying in Year 2? a. 52,893.73 b. 57,534,45 C. $2,851.35 d. $8,099.53 e. $3,217.50

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