You Plan to Borrow $45,200 at a 7

You plan to borrow $45,200 at a 7.5% 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) $2,403.37
B) $2,703.80
C) $2,854.01
D) $3,004.22
E) $3,454.85