ABC acquired a new Laser Machine worth P580,000.00. The center plans to pay 40% advance payment and the balance by quarterly payments for 7 years. If money is worth 9% converted quarterly. How much must be paid quarterly? * P16,886.79 O P9,056.79 O P16,515.20 P8,857.49

ABC acquired a new Laser Machine worth P580,000.00. The center plans to pay 40% advance payment and the balance by quarterly payments for 7 years. If money is worth 9% converted quarterly. How much must be paid quarterly? * P16,886.79 O P9,056.79 O P16,515.20 P8,857.49

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 12EA: Scrimiger Paints wants to upgrade its machinery and on September 20 takes out a loan from the bank...

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Concept explainers

Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.

Question

O i, ii, and ii
ABC acquired a new Laser Machine worth P580,000.00. The center plans to pay
40% advance payment and the balance by quarterly payments for 7 years. If
money is worth 9% converted quarterly. How much must be paid quarterly? *
P16,886.79
O P9,056.79
P16,515.20
P8,857.49
The union of the set of rational numbers and set of irrational numbers is:

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