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How much interest is payable each year on a loan of exist5,000 if the interest rate is 12% (simple interest) per year when half of
How much interest is payable each year on a loan of exist5,000 if the interest rate is 12% (simple interest) per year when half of the loan principal will be repaid as a lump sum at the end of four years and the other half will be repaid in one lump-sum amount at the end of eight years? How much interest will be paid over the eight-year period? The interest amount is paid at the end of each year. Fill in the table below. (Round to the nearest dollar.)
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