D3) A loan of R1 000 000,00 is granted for threeyears at a compound interest rate of 8,25%per annum compounded monthly. Anextract from the amortization table isshown.Payment OpeningPaymentnumberBalance9798 588,7631 451,8210B31 451,8211746 487,2231 451,8212720 167,5031 451,8213693 666,8331 451,82Determine the values of C and D in the tableabove.O A. C5 132,10 D= 666 983,96O B. C 5 041,63 D = 666 983,96O C. C 5 041,63 D = 662 215,00O D. C5 132,10 D= 662 215,00PrincipalA26 140,0126 319,7226 500,6726 682,86Interest5 490,305 311,81C4 951,154 768,96OutstandingBalance772 627,23746 487,22720 167,50693 666,83D

Solution:- When an amount is borrowed, it can either be repaid as a lump sum payment or in…

Answered: A loan of R1 000 000,00 is granted for…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 1EA: Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest...

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Similar questions

Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapovich Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.
Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600
Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $8,264.70 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.
Cash Flow Amounts On January 1, 2019, Philip Holding invests 40,000 in an annuity to provide 8 equal semi-annual payments. Interest is 10%, compounded semiannually. Required: Compute the equal semiannual amounts that Philip will receive assuming that the first withdrawal is to be received on: July 1, 2019 January 1, 2019 July 1, 2022 January 1, 2024
On January 1, 2018, King Inc. borrowed $150,000 and signed a 5-year, note payable with a 10% interest rate. Each annual payment is in the amount of $39,569 and payment is due each Dec. 31. What is the journal entry on Jan. 1 to record the cash received and on Dec. 31 to record the annual payment? (You will need to prepare the first row in the amortization table to determine the amounts.)
Future Value Hugh Colson deposited 20,000 in a special savings account that provides for interest at the annual rate of 12% compounded semiannually if the deposit is maintained for 4 years. Required: Calculate the balance of the savings account at the end of the 4-year period.

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