need help with 1, 2 and 3 thanks Otto Company borrows money on January...
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need help with 1, 2 and 3 thanks
Otto Company borrows money on January 1 and promises to pay it back in four semiannual payments of $13,000 each on June 30 and December 31 of both this year and next year. (PV of $1, FV of $1,PVA of $1, and FVA of $1 ) (Use appropriate factor(s) from the tables provided. Round your answers to nearest whole dollar. Round "Table Factor" to 4 decimal places.) 1. How much money is Otto able to borrow if the interest rate is 8%, compounded semiannually? 2. How much money is Otto able to borrow if the interest rate is 12%, compounded semiannually? 3. How much money is Otto able to borrow if the interest rate is 16%, compounded semiannually? Complete this question by entering your answers in the tabs below. How much money is Otto able to borrow if the interest rate is 8%, compounded semiannually
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need help with 1, 2 and 3 thanks