On January 1, 2025, LUNA Inc. issued 20,000, $1,000 bonds. …

On January 1, 2025, LUNA Inc. issued 20,000, $1,000 bonds.  The bonds have a 10-year term and pay interest semiannually.  This is a partial bond amortization schedule for the bonds:           Cash     Effective    Decrease in      Outstanding    Payment      Interest      Interest        Balance           Balance               12,522,685             1      400,000      626,134          226,134       12,748,819             2      400,000      637,441          237,441       12,986,260             3      400,000      649,313          249,313       13,235,573             4      400,000      661,779          261,779       13,497,352   What would be the total interest cost of the bonds over their full term?

On January 1, 2024, SCHOLASTIC Inc. borrowed $1,200,000 from…

On January 1, 2024, SCHOLASTIC Inc. borrowed $1,200,000 from CapitalBank. The loan was structured as a three-year installment note to be paid in equal payments of $448,932 at the end of each year. The interest rate of 6% was agreed upon by both parties.     How much of the payment on the installment note is for the principal in 2025?