Mr. Sy borrowed money from a bank with an interest of 6% compounded monthlyfor 10 years. His monthly amortization is P20, 000.6. What is the total interest rate per conversion period?C. 0.0075A. 0.005B. 0.006D. 0.067. What is the total number of period of time to fully paid the loan?А. 100B. 120 C. 160D. P 2408. After 80th payment, what is the total number of payments remain?В. 30C. 409. What is the total number of payment of Mr. Sy after he paid the 10-year mortgage?C. P2, 148,919.34D. P2, 400, 000A. 20D. 120A. P1, 899, 600.14B. P2, 026,802.2410. How much is his outstanding balance after the 80th payment?C. P704, 564. 56D. P723, 444. 56A. P690, 444. 56В. Р683, 134. 56

6. Calculate the interest rate per conversion period by dividing the annual interest rate which is…

Mr. Sy borrowed money from a bank with an inferest of 6% compounded monthly for 10 years. His monthly amortization is P20, 000. 6. What is the total interest rate per conversion period? C. 0.0075 B. 0.006 7. What is the total number of period of time to fully paid the loan? B. 120 C. 160 A. 0.005 D. 0.06 А. 100 D. P 240 8. After 80th payment, what is the total number of payments remain? C. 40 D. 120 В. 30 A. 20 9. What is the total number of payment of Mr. Sy after he paid the 10-year mortgage? A. P1, 899, 600.14 B. P2, 026,802.24 C. P2, 148,919.34 D. P2, 400, 000 10. How much is his outstanding balance after the 80th payment? A. P690, 444. 56 В. Р683, 134. 56 C. P704, 564. 56 D. P723, 444. 56

Mr. Sy borrowed money from a bank with an inferest of 6% compounded monthly for 10 years. His monthly amortization is P20, 000. 6. What is the total interest rate per conversion period? C. 0.0075 B. 0.006 7. What is the total number of period of time to fully paid the loan? B. 120 C. 160 A. 0.005 D. 0.06 А. 100 D. P 240 8. After 80th payment, what is the total number of payments remain? C. 40 D. 120 В. 30 A. 20 9. What is the total number of payment of Mr. Sy after he paid the 10-year mortgage? A. P1, 899, 600.14 B. P2, 026,802.24 C. P2, 148,919.34 D. P2, 400, 000 10. How much is his outstanding balance after the 80th payment? A. P690, 444. 56 В. Р683, 134. 56 C. P704, 564. 56 D. P723, 444. 56

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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Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapovich Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.
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