On $\frac{1}{1}\frac{?}{2024},$ Knecht Company purchased new equipment for the following amount and took out a loan for $80\%$ of the cost of the equipment, paying the down payment in cash at the date of $1,600,000$ purchase..

Maturity of loan in years with semi$-$annual payments

$15$

Annual interest rate of loan

$6\%$

REQUIRED :

What is the amount of interest in the fourth loan payment $($second payment in year $2)?$

What does the firm owe the bank after $6$ years?

If the firm holds the loan till maturity, what is interest expense over the life of the loan?

What is the maturity date if the firm pays an additional $$10,000$ each payment $...$ in other words how long will the loan last?