For questions 8-14: XYZ Company is building an addition (building and machinery) to its manufacturing plant to increase its production capacity. The cost of the addition is $1 , 230 , 000 . Its lender is willing to make a loan to the company at 70% loan to value, for 20 years, payments made monthly, and at an interest rate of 5% APR. 12. What will be the total amount of interest paid on this loan? $502 , 732 , 80 $550 , 913.33 $492 , 627.87 $61 , 500.00 ? ? For questions 8-14: XYZ Company is building an addition (building and machinery) to its manufacturing plant to increase its production capacity. The cost of the addition is $1 , 230 , 000 . Its lender is willing to make a loan to the company at 70% loan to value, for 20 years, payments made monthly, and at an interest rate of 5% APR. 13. How much of the first monthly payment will be interest and how much of the last monthly payment will be interest? $4 , 722.84 and $152.79 $2697.25 and $2 , 697.25 $3 , 587.50 and $23.58 $3 , 297.86 and $37.11 For questions 8-14: XYZ Company is building an addition (building and machinery) to its manufacturing plant to increase its production capacity. The cost of the addition is $1 , 230 , 000 . Its lender is willing to make a loan to the company at 70% loan to value, for 20 years, payments made monthly, and at an interest rate of 5% APR. 14. If the term of the loan were 30 years instead of 20 , what would the monthly payment be and what would be the total amount of interest paid? $3 , 734.99 and $783 , 582 $1 , 999.26 and $468 , 418.74 $4 , 622.03 and $802 , 930.80 $5 , 926.67 and $831 , 463.54