Lukas Center acquired a new Laser Machine worth ₱580,000.00. The center plans to pay 35% advance payment and the balance by quarterly payments for 7 years. Money is worth 9% converted quarterly. a.)How much is the balance that must be amortized every three months? b.)How many quarterly payments must be made to settle the obligation? c) what is the amount of the quarterly payments?
Lukas Center acquired a new Laser Machine worth ₱580,000.00. The center plans to pay 35% advance payment and the balance by quarterly payments for 7 years. Money is worth 9% converted quarterly. a.)How much is the balance that must be amortized every three months? b.)How many quarterly payments must be made to settle the obligation? c) what is the amount of the quarterly payments?
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 1PA: On January 1, 2018, King Inc. borrowed $150,000 and signed a 5-year, note payable with a 10%...
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Lukas Center acquired a new Laser Machine worth ₱580,000.00.
The center plans to pay 35% advance payment and the balance by quarterly
payments for 7 years. Money is worth 9% converted quarterly.
a.)How much is the balance that must be amortized every three months?
b.)How many quarterly payments must be made to settle the obligation?
c) what is the amount of the quarterly payments?
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