The <u>amount of the unrecovered balance</u> immediately before Spectra Scientific of Santa Clara, California made the first payment at the end of year 1 is $49,680,000.00.
<h3>What is future value?</h3>
The unrecovered amount is the future value of the loan at the end of year 1 after the first year's interest has been added, and before subtracting the first payment.
The future value can be computed using the Future Value Formula below or an online finance calculator as follows:
<h3>Future Value Formula:</h3>
FV = PV(1+r)^{n}
FV = future value
PV = present value
r = annual interest rate
{n} = number of periods interest held
<h3>Data and Calculations:</h3>
N (# of periods) = 6 years
I/Y (Interest per year) = 8%
PV (Present Value) = $46,000,000
PMT (Periodic Payment) = $0
<u>Results:</u>
FV = $49,680,000.00
<u>Annual Schedule of Payment and Balance:</u>
Period PV PMT Interest FV
1 $46,000,000.00 $0.00 $3,680,000.00 $49,680,000.00
Thus, the <u>amount of the unrecovered balance</u> immediately before Spectra Scientific of Santa Clara, California made the first payment at the end of year 1 is $49,680,000.00.
Learn more about future value at brainly.com/question/24703884
