2. If Php 80,000 is invested at the rate of 6-% compounded annually, when will it earninterest of Php 15,000?3. The PC Shop obtains a loan from a finance company. It is to be repaid by quarterlypayments of Php 50,000, the first of which is due at the end of 2 years and the last atthe end of 6 years. If the interest rate of the loan is 16% compounded quarterly, howmuch is the amount borrowed?

Note: I am supposed to provide the solution of first question only. Please repost the remaining…

Answered: 2. If Php 80,000 is invested at the…

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2. If Php 80,000 is invested at the rate of 6-% compounded annually, when will it earn interest of Php 15,000?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 5Q: If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the...

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Concept explainers

Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.

Question

2. If Php 80,000 is invested at the rate of 6-% compounded annually, when will it earn
interest of Php 15,000?
3. The PC Shop obtains a loan from a finance company. It is to be repaid by quarterly
payments of Php 50,000, the first of which is due at the end of 2 years and the last at
the end of 6 years. If the interest rate of the loan is 16% compounded quarterly, how
much is the amount borrowed?

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