Chapter12: Current Liabilities
Section: Chapter Questions
Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...
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answer number 35 with solution
Transcribed Image Text:For 34 -35: An annuity contract provides for the payment of P2,200 at the end of every month for 10 years.
KARYLLE P
General
e:
For 34-35: An annuity contract provides for the payment of P2,200 at the end of every month for 1o yealo
Money is worth 7% compounded semi-annually.
34. What is the conversion period?
A. m=1
B. m32
C. m=4
D. m=6
35. What is the amount of the annuity at the
end of 10 years?
A. P3 838 328.45 C. P380 786.58
B. P3 670 994.35
Soln:
D. P378 698.24
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