On October 1, 2021, Kirby Constuction wanted to borrow $45,000. The bank has presented several different options. For each option... 1.) Complete the amortization table 2.) Determine the amount of interest that will accrue from October 1 through to December 31 in 2021.

3.) Determine the amount of principal that will be paid in 2022.

a. $45,000 for 3 years at 9% interest.

There are no payments until the end of the three years.

b. $45,000 for 3 years at 9% interest.

The interest is paid every year and the principle is paid at the end of the three years

c. $45,000 for 3 years at 9% interest.

The company makes instalment payments of $15,000 each year plus interest

d. $45,000 for 3 years at 9% interest.

The company makes blended payments (principle and interest) of $17,777.46 cash each year.

e. $45,000 for 3 years at a discount

The company makes interest payments of 7% x 45,000 = $3,150 each year but the market rate of interest is 9%

Additional Questions:

2.) Interest in 2021? 3.) Principal in 2022?

2.) Interest in 2021? 3.) Principal in 2022?

2.) Interest in 2021? 3.) Principal in 2022?

2.) Interest in 2021? 3.) Principal in 2022?

2.) Interest in 2021? 3.) Principal in 2022?

Date	Cash payment	Interest expense	Principal portion	Carrying Amount
				45,000
#1: Oct.1, 2022
#2: Oct.1, 2023
#3: Oct.1, 2024

Date	Cash payment	Interest expense	Principal portion	Carrying Amount
				45,000
#1: Oct.1, 2022
#2: Oct.1, 2023
#3: Oct.1, 2024

Date	Cash payment	Interest expense	Principal portion	Carrying Amount
				45,000
#1: Oct.1, 2022
#2: Oct.1, 2023
#3: Oct.1, 2024

Date	Cash payment	Interest expense	Principal portion	Carrying Amount
				45,000
#1: Oct.1, 2022
#2: Oct.1, 2023
#3: Oct.1, 2024

Payment	Cash payment	Interest expense	Principal portion	Carrying Amount
				45,000
#1: Oct.1, 2022
#2: Oct.1, 2023
#3: Oct.1, 2024