Problem:A debt of P2,000 will be discharged,interest included, by equal payments at theend of each month for 3 years. If interest ispayable monthly at the rate 5% (using thecomputation of r = .05/12 = .0041667), find:%3DA. the outstanding principal at the beginningof the 3" year?B. the interest paid on the 30h paymentdate?

in this we have to calculate present value FACTOR monthly and from that we get monthly payments.

est included, by equal pa at of each month for 3 years. If interest is ple monthly at the rate 5% (using the utation of r = .05/12 = .0041667), find: %3D e outstanding principal at the beginning the 3rd year? e interest paid on the 30th payment

est included, by equal pa at of each month for 3 years. If interest is ple monthly at the rate 5% (using the utation of r = .05/12 = .0041667), find: %3D e outstanding principal at the beginning the 3rd year? e interest paid on the 30th payment

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 1PB: Sub-Cinema Inc. borrowed $10,000 on Jan. 1 and will repay the loan with 12 equal payments made at...

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Question

Problem:
A debt of P2,000 will be discharged,
interest included, by equal payments at the
end of each month for 3 years. If interest is
payable monthly at the rate 5% (using the
computation of r = .05/12 = .0041667), find:
%3D
A. the outstanding principal at the beginning
of the 3" year?
B. the interest paid on the 30h payment
date?

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