Barbie and Ken agrees to lend Dora money in exchange of monthly payments of P = P 5,000 begin- ning Mar. 14, 2023 until Feb.14, 2024. Money is worth 7.2% payable monthly. P... P P P 7/14 8/14 9/14 P 12/14 1/14 2/14 3/14 4/14 P P P 12/14 1/14 2/14 3/14 5/14 (1) How much is did Dora borrowed today? (2) Dora failed to settle all monthly dues scheduled but Barney's collection agency who represents Ken and Barbie waives penalties due to payment default and allowed her to settle all amount dues plus interest on May 14, 2024. How much is the total amount due that she should settle with Barney? (3) Dora wishes to pay Ken and Barbie in one lump sum amount on August 14, 2023. How much in total is she allowed pay on that day to discharge the entire loan? (4) Dora decided to continue the payment thru Sept. 14, 2023. How much is her remaining payments due after this 9/14 payment? (5) How much must Dora pay instead of P5,000 monthly, if she wishes to borrow P 60,000 from Ken and Barbie on Dec. 14, 2022?

Barbie and Ken agrees to lend Dora money in exchange of monthly payments of P = P 5,000 begin- ning Mar. 14, 2023 until Feb.14, 2024. Money is worth 7.2% payable monthly. P... P P P 7/14 8/14 9/14 P 12/14 1/14 2/14 3/14 4/14 P P P 12/14 1/14 2/14 3/14 5/14 (1) How much is did Dora borrowed today? (2) Dora failed to settle all monthly dues scheduled but Barney's collection agency who represents Ken and Barbie waives penalties due to payment default and allowed her to settle all amount dues plus interest on May 14, 2024. How much is the total amount due that she should settle with Barney? (3) Dora wishes to pay Ken and Barbie in one lump sum amount on August 14, 2023. How much in total is she allowed pay on that day to discharge the entire loan? (4) Dora decided to continue the payment thru Sept. 14, 2023. How much is her remaining payments due after this 9/14 payment? (5) How much must Dora pay instead of P5,000 monthly, if she wishes to borrow P 60,000 from Ken and Barbie on Dec. 14, 2022?

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 14P: Compound Interest Issues You are given the following situations: 1. Thomas Petty owes a debt of...

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