How much of the second payment is interest

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Statue Builders, Inc. has an outstanding loan that calls for equal annual payments of $7,500 over the life of the loan. The original loan amount was $45,000 at an APR of 7 percent. How much of the second payment is interest? A. $2,845.50 B. $3,150.00 C. $4,350.00 D. $4,654.50 E. $5,021.50

Reference no: EM131354528

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