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9. Statue Builders, Inc. took out a loan for $65,000 that has to be repaid...

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Accounting

9. Statue Builders, Inc. took out a loan for $65,000 that has to be repaid in 10 equal annual installments. The APR on the loan is 7.25%. How much of the second payment is interest? a) $4,814.22 b) $4,712.50 c) $4,375.43 d) $4,013.92 e) $9,361.77

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