Your company borrowed $125 million from a Bank on December 31 2019 for one year at a fixed interest rate of 3%. It amortizes 50% after six months. Interest is paid semi-annually. Your two payments to the bank this year are:
a) $64,385,417 & $63,458,333
b) $64,385,417 & $63,416,667
c) $64,375,000 & $64,375,000
d) $64,375,000 & $63,437,500
Answer: a) $64,385,417 & $63,458,333
Business
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