A bank loan of P6,000,000 charged at 9.65% pa compounded quarterly , is to be paid in 10 equal annual payments, the first of which to be paid 24 months from now. How much does Mr. Eden still owe to the bank after he has made the 8th payment? a. P1,864,174.52 b. P 1,694,704.11 c. P1,452,040 d. P1,211,510

A bank loan of P6,000,000 charged at 9.65% pa compounded quarterly , is to be paid in 10 equal annual payments, the first of which to be paid 24 months from now. How much does Mr. Eden still owe to the bank after he has made the 8th payment? a. P1,864,174.52 b. P 1,694,704.11 c. P1,452,040 d. P1,211,510

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

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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