An amount of P100,000 was borrowed and wasto be repaid in ten installments at the end ofevery year thereafter with each payment P1,000more than the preceding. If interest is 12%compounded annually, determine the totalamount paid by the borrower.O P186,137.60O P183,661.12P163,023.84P179,080.64 An amount of P100,000 was borrowed and wasto be repaid in ten installments at the end ofevery year thereafter with each payment P1,000more than the preceding. If interest is 12%compounded annually, determine the amount offirst payment paid by the borrower.P12,000O P11,342.26P11,746.35O P14,113.76

Let the first payment = X Second payment = X + 1000 and so on n = 10 years r = 12% Loan amount (L) =…

An amount of P100,000 was borrowed and was to be repaid in ten installments at the end of every year thereafter with each payment P1,000 more than the preceding. If interest is 12% compounded annually, determine the total amount paid by the borrower. O P186,137.60 O P183,661.12 O P163,023.84 P179,080.64

An amount of P100,000 was borrowed and was to be repaid in ten installments at the end of every year thereafter with each payment P1,000 more than the preceding. If interest is 12% compounded annually, determine the total amount paid by the borrower. O P186,137.60 O P183,661.12 O P163,023.84 P179,080.64

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 8E: Cash Flow Amounts R. Lee Rouse borrows 10,000 that is to be repaid in 24 equal monthly installments...

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