You going to purchase a new storage facility for $1,250,000. The loan is a 15-year fixed loan with a 3.875% APR. You are planning to put 20% down on this loan. Assume the payments are being made at the end of the period. How much interest did you pay in the 8th year only? Group of answer choices $16,012.8399 $22,268.3237 $24,237.9654 $242,946.3182 Magic Software has 7.25% coupon bonds on the market with 15 years to maturity. The bonds compound semiannually and currently sell for 95% of par. What is the Effective Annual Yield (EAY) 7.5098% Group of answer choices 7.9751% 3.9492% 7.9812% 7.8221%