Best's Fried Chicken just took out an interest-only loan of $50,000 for three years with an interest rate of 8.15 percent. Payments are to be made at the end of each year. What is the amount of the payment that will be due at the end of Year 3? 1. $19,454.21 2. $50,000.00 3. $52,824.60 4. $54,075.00 5. $20,166.67
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