Otto Company borrows money on January $1$ and promises to pay it back In four semlannual payments of $$28,000$ each on June $30$ and December $31$ of both this year and next year. $($PV of $$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.$)$

How much money is Otto able to borrow if the Interest rate is $4\%,$ compounded semlannually?

How much money is Otto able to borrow if the Interest rate is $8\%,$ compounded semlannually?

How much money is Otto able to borrow If the interest rate is $10\%,$ compounded semiannually?

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How much money is Otto able to borrow if the interest rate is $4\%,$ compounded semiannually?

Periodic Cash Flow

Table Factor

Present Value

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