If Wesson Metals has an outstanding loan that calls for equal annual payments of $9,768.46 over the life of the loan. The original loan amount was $50,000 at an APR of 8.5 percent. The amount of the second loan payment interest is:$3,780.93.
Second loan payment interest
Year 1
Interest paid = 50000 × 0.085 = $4,250
Principal amount paid =$9,768.46 - $4,250 = $5,518.46
Principal remaining = $50,000 - $5,518.46= $44,481.54
Year 2
Interest paid =Principal remaining × Interest rate
Interest paid = $44,481.54× 0.085 = $3,780.93
Therefore If the original loan amount was $50,000 at an APR of 8.5 percent. The amount of the second loan payment interest is:$3,780.93.
Learn more about Second loan payment interest here:https://brainly.com/question/13781801
#SPJ1
