Question: please write in text not in handwriting since its hard to read from a paper pic and i need an explanation for each problem thank

please write in text not in handwriting since its hard to read from a paper pic and i need an explanation for each problem thank you

1 SONY needs $24,034,142 for a new sound studio facility to be constructed 10 years from now. The company currently has $5,000,000 to invest in such capital expenditures. At what rate of interest must it invest the $5,000,000 to fund construction of the new facility? (Round to the nearest whole percentage

2. Prepare an amortization schedule for a 5-year loan of $87,000. The interest rate is 7% with equal monthly payments How much interest is paid during the first year?

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