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You plan to borrow $46,400 at a 7.6% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year payments. How
You plan to borrow $46,400 at a 7.6% 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. $3,526.40 b. $8,790.61 c. $8,169.71 d. $3,126.32 e. $3,173.51
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