QUESTION 5 if you want to have $15.000 in 5 years and the bank pays Interest at 3% compounded semi-annually, how much would you need to put in the bank today? O $22.289 21 O 5 10.094 57 O $13.58596 O Some other number O 5 10,133.45 QUESTION 6 Which statement is correct? Expenses always have credit balances before closing O Allalily usually has a debt balance Expenses always have a debt balance before closing Assets always have a debt balance Onone of these QUESTION 7 The accounting equation is O Debits - Credits Assets - Llabilities + Owners' Equity O Revenues - Cost of Goods Sold - Gross Margin The same as the book value Recording all expenses incurred in generating the revenues of the period QUESTION 8 Kyle Company is buying a Widget from Smith Company. The original cost on January 1, 2020 was $23,000. Kyle put no money down and is making annual payments each December 31st of $5,694.15 which include Interest at 6%. If yleis properly amortizing this purchase the interest expense for 2021 (second year) is O $1.233.91 O Some other number O $1,500.00 O $1,439.15 51883.44