Cadmium technologies inc. believes that the sole purpose of its existence is to maximize profits for its stockholders. the firm has often been criticized for not engaging in any social investments. however, the firm has been appreciated for abiding by the laws while earning profits. according to this information, which of the following approaches to ethics is most likely being adopted by cadmium technologies? a. friedman doctrineb. utilitarianismc. kantian ethicsd. sullivan's principlese. naive immoralist

I would need to pay Interest of $3150.44 in year 2

Explanation:

First Calculate annual Payment

The Principle is $ 47400, Therefore PV =$47400

Interest rate provided is 7.5% , Therefore i = 7.5%

Interest is compounded Annually, Therefore P/YR = 1

Period over which loan is to be repaid is 7 years, Therefore N = 7

Payments are made at the end of year

Using Financial Calculator for (PV =$47400, i = 7.5%, P/YR = 1,N = 7) The payment to be made annually is $8949.13

Then Determine Interest to be paid in Year 2 from Amortization Schedule

Principle payment of $5394.13 is made

And Interest paid $ 3555 is paid

Leaving the Balance to be paid at $ 42005.87

Principle payment is $ 7440.57

Interest interest paid is $ 3150.44

Leaving a remaining balance of $36207.17 to be paid