Vondior Company borrowed $25,000 cash on January 1st, 2015. The loan is a 5-year note at 8% interest. Vondior Company must repay the loan in 5 equal payments of $6,261.41. How much total interest will Vondior recognize during the 5-year period?

e. $6,307

Explanation:

Options are "$25,000, $31,307, $10,000, $21,307, $6,307"

Total amount repaid         $31,307.05

($6,261.41 * 5)

Less: Amount borrowed   $25,000.00

Total interest                     $6,307.05

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%