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Otto Company borrows money on January 1 and promises to pay It back in four semiannual payments of $14,000 each on June 30 and December
Otto Company borrows money on January 1 and promises to pay It back in four semiannual payments of $14,000 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 approprlate 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 2%, compounded semlannually? 2. How much money is Otto able to borrow If the Interest rate is 6%, compounded semlannually? 3. How much money is Otto able to borrow If the interest rate is 8%, compounded semiannually
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