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Eagle Corp. issues a $842,472, 6% 5 year notes payable on January 1, 2024.  The note will be repaid in five annual installments of $200,000, each payable at the end of the year (i.e. $200,000 at the end of 2024, $200,000 at the end of 2025, etc.).  What is the amount of interest expense that should be recorded by Eagle Corp. in the second year (i.e. on the income statement for the year ended December 31, 2025)? You must use the honorlock calculator to solve the problem. (round to the nearest dollar).   Answer:  $_______

You are about to purchase a house for $750K, making a down payment of 20%, and taking out a 15-year mortgage at 8.00% APR for the remaining amount. All of a sudden, our politicians are proposing to make housing “more affordable” by incentivizing you to take out a 50-year mortgage. Having taking Business Finance, you know that total interest paid on the longer-term loan will bigger than a toddler’s bedtime to-do list.  Calculate, how much more in total interest you’re expecting to pay on the 50-year mortgage compared to 15-year mortgage. Assume other terms being same, with standard conditions (monthly end-of-month payments). Submit your answer in dollars, rounding your answer to the nearest penny ($0.01).

On January 1, 2024 Eagle Corp. issued $3,500,000, 10 year, 8% bonds.  The bonds pay interest semi-annually.  At the time of issuance the market rate of interest is 12%.  Calculate the issue price of the bond. You must use the honorlock calculator to solve the problem. (Use the appropriate factor tables and round to the nearest dollar).   Answer:  $_______

On January 1, 2024, Eagle Corp. issued $6 million, 10 year, 8% bonds with interest to be paid annually.  Eagle Corp. issued the bonds for $6,504,953 since the market rate of interest was 6% on the issue date.  What is the total amount of interest expense that Eagle Corp. should report on its December 31, 2025 income statement? You must use the honorlock calculator to solve the problem. (round to the nearest dollar). Answer:  $_______

On January 1, 2024 Eagle Corp. issued $5,500,000, 10 year, 8% bonds.  The bonds pay interest semi-annually.  At the time of issuance the market rate of interest is 10%.  Calculate the issue price of the bond. You must use the honorlock calculator to solve the problem. (Use the appropriate factor tables and round to the nearest dollar).   Answer:  $_______

A 7-year-old child frequently argues with adults, refuses to follow rules, deliberately annoys others, and blames others for their mistakes. These behaviors have persisted for over six months and cause significant problems at home and school. Which of the following is the most likely diagnosis? 

John Smith wants to retire in 15 years.  He anticipates he will need $3,000,000 to retire.  John has an account that currently pays 7% compounded annually.  If John has $850,000 in his account today how much additional money must he deposit in the account today to have $3,000,000 when he retires You must use the honorlock calculator to solve the problem. (use the appropriate factor table(s) to answer the question and round to the nearest dollar). 

Eagle Corp. purchased a new piece of equipment on January 1, 2024.  The equipment had a list price of $90,000, however the seller agreed to allow Eagle Corp. to pay for the equipment in 6 yearly installments of $20,000 on December 31 of each year.  Assuming the note incurs interest at 12% annually, what amount should Eagle Corp. debit the equipment account for on the date of purchase? You must use the honorlock calculator to solve the problem. (round to the nearest dollar).   Answer:  $_______

On January 1, 2024 Eagle Corp. issued $4,000,000, 10 year, 12% bonds.  The bonds pay interest semi-annually.  At the time of issuance the market rate of interest is 8%.  Calculate the issue price of the bond.  You must use the honorlock calculator to solve the problem. Use the appropriate factor tables and round to the nearest dollar).   Answer:  $_______

Ron is the business agent for Kansas Sunshine, a rock band. He is also the agent for another popular Midwestern rock group, City Sand. Ron negotiates a deal with a Kansas City promoter to have City Sand play after a professional football game. The promoter was willing to pay $250,000 for both groups to play after the game; however, Ron talked her into booking just City Sand for $175,000. Given his contract with City Sand, Ron made more money under this arrangement. Has Ron violated his fiduciary duty to Kansas Sunshine?