Kate owes P120 000 due in 4 years plus the accumulated interest from today at 13% compounded quarterly. She agrees to pay it in installment: P30,000 after 2 years; P40,000 after 3 years the remaining balance at the end of 4 years. How much did Kate owe at the end of 4th year?

Kate owes P120 000 due in 4 years plus the accumulated interest from today at 13% compounded quarterly. She agrees to pay it in installment: P30,000 after 2 years; P40,000 after 3 years the remaining balance at the end of 4 years. How much did Kate owe at the end of 4th year?

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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