What will be the interest expense for the first year

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You want to borrow $150,000 to start a new business. A bank will lend the money at 12.68% annual interest with annual payments for 15 years. What will be the interest expense for the first year?

A. $10,000

B. $15,000

C. $17,260

D. $19,020

Reference no: EM13890458

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