The amount of interest earned in 11 years on Php 1,000,000 deposited in an account paying 8% interest compounded monthly is Php 1,403,869.28? a. True b. False
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The amount of interest earned in 11 years on Php 1,000,000 deposited in an account paying 8% interest compounded monthly is Php 1,403,869.28?
a. True
b. False
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- Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600Use Future Value and Present Value Tables to Apply Compound Interest to Accounting Transactions Kristen Quinn makes equal deposits of $500 semiannually for 4 years. Required: What is the future value at 8%? (Note: Round answers to two decimal places.)Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual interest rate of 3.5%, due in 6 months. What journal entry is created when Jain honors the note?
- 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.Cash Flow Amounts R. Lee Rouse borrows 10,000 that is to be repaid in 24 equal monthly installments payable at the end of each subsequent month with interest at the rate of 1% per month. Required: Using the appropriate table, calculate the equal installments.Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $8,264.70 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.
- The interest earned in 6 years on Php 400,000 deposited in an account paying 9% interest, compounded monthly is Php 685,021.08? a. True b. FalseA man bought an equipment costing Php 75,000 payable in 14 quarterly payments, each installment payable at the beginning of each period. The rate of interest is 30% compounded quarterly. What is the amount of each payment? A = Php 9,278.123 A = Php 8,218.421 A = Php 12,255.789 A = Php 6,890.987How much interest is earned in 4 years on P8,000.00 deposited in an account paying 6% interest, compounded semi-annually.
- If the principal of Php 2,500.00 earns interests of Php 185.00 in 4 years and 8 months, whatinterests rate is in effect?An investor deposits £1,000 into an account that pays continuously compounded interest of 9% (nominal annual rate). The value of the account at the end of six years is closest to:A. £1,677.B. £1,712. C. £1,716. Use excelA man bought an equipment costing P65,000 payable in 10 quarterly payments, each installment payable at the beginning of each period. The rate of interest is 24% compounded quarterly. What is the Outstanding principal at the beginning of the period 6. (Hint: Construct an amortization schedule.) a.Php 38,095.416 b.Php 37,095.416 c.Php 36,095.416 d.Php 35,095.416