Business, 27.11.2019 20:31, QANDA660

You plan to borrow $75,000 at a 7% annual interest rate. the terms require you to amortize the loan with 10 equal end-of-year payments. how much interest will be paid in year 2? hint: calculate pmt first, then use the amort function on the financial calculator to find the 2nd year interest payment. a. $4,395.19 b. $4,626.52 c. $4,870.02 d. $5,113.52

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You plan to borrow $75,000 at a 7% annual interest rate. the terms require you to amortize the loan...