Please solve the problem completely. A debt of P 15,000 was paid for as follows: P 4,000 at the end of 3 months, P5,000 at the end of 12 months, P 3,000 at the end of 15 months, and a finalpayment F at the end of 21 months. If the rate of interest was 18%compounded quarterly, find the final payment F.

Quaterly Interest rate is 18%4=4.5% To Find:- 'F'

Answered: A debt of P 15,000 was paid for as…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 6MC: On July 1, a company sells 8-year $250,000 bonds with a stated interest rate of 6%. If interest...

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A debt of P 15,000 was paid for as follows: P 4,000 at the end of 3 months, P 5,000 at the end of 12 months, P 3,000 at the end of 15 months, and a final payment F at the end of 21 months. If the rate of interest was 18% compounded quarterly, find the final payment F.