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Please do not use excel format in computation A debt of P25,000 was repaid in ten equal quarterly payments. If the rate of interest was 7% compounded quarterly, what was the size of each 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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Please do not use excel format in computation

A debt of P25,000 was repaid in ten equal quarterly payments. If the rate of interest was 7% compounded quarterly, what was the size of each payment?

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