You plan to borrow $46,100 at an 8.3% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year payments. How much interest would you be paying in Year 2?
a. $8,260.01 b. $8,945.59 c. $3,401.40 d. $3,826.30 e. $3,458.30