1. 12) Amy has $3,000,000 in her investment fund. She wishes to withdraw $338,868 at the end of each of the next 13 years. What interest rate must she earn in order to accomplish her goal.

1. 13) A note receivable that is due in 15 months from now is always classified as a long-term asset. (True/False)

1. 14) A long-term note receivable should be disclosed in Other Assets in a classified balance sheet. (True/False)

1. 15) Platinum Company borrowed $4,800,000 on June 1, 2021 to be paid back in four equal annual installments of $1,200,000. On June 1, 2022, Platinum Company paid the first installment. The interest rate on this note payable is 8%. Calculate the interest payable at December 31, 2022.