= 800,000 x 6% x 1year = 48,000. The Interest payment at the end of the first period will be 48,000 dollars.
Work Step by Step
The interest will be calculated as follows: Interest = Principal amount x Rate of interest x Period (in years)
You can help us out by revising, improving and updating this answer.Update this answer
After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.