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Your bank offers to lend you $108,500 at an 8.5% annual interest rate to start your new business. The terms require you to amortize

Your bank offers to lend you $108,500 at an 8.5% annual interest rate to start your new business. The terms require you to amortize the loan with 10 equal end-of-year payments. How much interest would you be paying inYear 2? $6,880.67 $7,740.75 $8,170.79 $8,600.83 $9,890.96

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