Check 7 Exercise B-11 (Algo) Present value with semiannual Compounding LO C1, P3 6 nes Otto Company borrows money on January 1 and promises to pay it back in four semiannual payments of $28,000 cach on June 30 and December 31 of both this year and next year (Py of S1, EVO S1, PVA of $1. and FVA of 50 (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) 1. How much money is Otto able to borrow if the interest rate is 2%, compounded semiannually? 2. How much money is Otto able to borrow if the interest rate is 6%, compounded semiannually? 3. How much money is Otto able to borrow if the interest rate is 8%, compounded semiannually? Hint Print Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required How much money is Otto able to borrow if the interest rate is 2%, compounded semiannually? Periodic Cash Flow Table Factor Prosent Value $ 28.000 Modi Required 2 > Exercise B-11 (Algo) Present value with semiannual Co oundin Otto Company borrows money on January 1 and promises to pay it back in four semiannual payments of $28,000 each on June 30 and December 31 of both this year and next year. (PV of $1. EV of S1. PVA of S1, and EVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) 1. How much money is Otto able to borrow if the interest rate is 2%, compounded semiannually? 2. How much money is Otto able to borrow if the interest rate is 6%, compounded semiannually? 3. How much money is Otto able to borrow if the interest rate is 8%, compounded semiannually? 1 ht ncos Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3 How much money is Otto able to borrow if the interest rate is 6%, compounded semiannually? Periodic Cash Flow Table Factor Present Value 28,000