# The following tables illustrate a loan of $1,750,000 with 5…

The following tables illustrate a loan of $1,750,000 with 5 annual payments of $415,444. The loan started on 1/1/2013. The first of 5 annual payments begain on 12/31/2013. The loan carries an annual interest rate of 6%. Using either table (each table has the same information/answers but is presented in two familiar formats) determine the amount of interest expense that would be allocated from the second annual payment. The highlighted box is the answer students should provide for this question.