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Your bank offers to lend you $110,000 at an 7.27% annual interest rate to start your new business. The terms require you to amortize the

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Your bank offers to lend you $110,000 at an 7.27% 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 in Year 2? a. $8,215,97 b. $7.783.56 c. $9,945,65 d. 57425,54 e. $6,918,72

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