Exercise B-11 Present value with semiannual Compounding LO C1, P3 Otto Co. borrows money on April 30, 2016, by promising to make four payments of $24,000 each on November 1, 2016; May 1, 2017; November 1, 2017; and May 1, 2018. (PV of $1, FV of $1, PVA of $1, and FVA 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 4%, compounded semiannually? Periodic Cash Flow Table Factor Present Value 2. How much money is Otto able to borrow if the interest rate is 8%, compounded semiannually? Periodic Cash Flow Table Factor Present Value 3. How much money is Otto able to borrow if the interest rate is 10%, compounded semiannually? Periodic Cash Flow Table Factor Present Value