How much interest would you be paying

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Reference no: EM13294810

Your bank offers to lend you $180,000 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 in Year 2?

Answer
$14,269
$14,839
$14,982
$15,838
$10,987

Reference no: EM13294810

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