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Meyer borrowed $75,000 from the First National Bank of Bloomington on January 1, 2020. This loan...

Meyer borrowed $75,000 from the First National Bank of Bloomington on January 1, 2020. This loan is amortized over 5 equal annual payments using an annual interest rate of 5.00%. The first annual payment of $17,323.11 is due on January 1, 2021. What amount of the loan payment due on January 1, 2022 (ie second annual payment) is interest and what amount is reduction of principal?

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