Use the amortization table that you prepared for Standard Autoparts in exercise S9-9 to answer these questions about the company's long-term debt:
1. How much cash did Standard Autoparts borrow on January 31, 2014? How much cash will Standard Autoparts pay back at maturity on January 31, 2015?
2. How much cash interest will Standard Autoparts pay each six months?
3. How much interest expense will Standard Autoparts report on July 31, 2014, and on January 31, 2015? Why does the amount of interest expense increase each period? Explain in detail.