On 1/1/2024, Knecht Company purchased new equipment for the following amount and took out a loan...

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On 1/1/2024, Knecht Company purchased new equipment for the following amount and took out a loan for 80% of the cost of the equipment, paying the down payment in cash at the date of purchase.. Maturity of loan in years with semi-annual payments Annual interest rate of loan semi annual payment REQUIRED: What is the amount of interest in the fourth loan payment (second payment in year 2)? What does the firm owe the bank after 6 years? If the firm holds the loan till maturity, what is interest expense over the life of the loan? What is the maturity date if the firm pays an additional $10,000 each payment ... in other words ... how long will the loan last? 1,600,000 15 6% On 1/1/2024, Knecht Company purchased new equipment for the following amount and took out a loan for 80% of the cost of the equipment, paying the down payment in cash at the date of purchase.. Maturity of loan in years with semi-annual payments Annual interest rate of loan semi annual payment REQUIRED: What is the amount of interest in the fourth loan payment (second payment in year 2)? What does the firm owe the bank after 6 years? If the firm holds the loan till maturity, what is interest expense over the life of the loan? What is the maturity date if the firm pays an additional $10,000 each payment ... in other words ... how long will the loan last? 1,600,000 15 6%