The Filipino helper of Kim Tae Hyung bought a 23.2 cubic feet smart refrigerator for 198,095Php. She paid a 50,000Php downpayment and used her credit card to pay the balance on an installment basis monthly for 3 years. The interest rate charged is 8% compounded monthly. How much goes to the interest on the 26th payment? Please do NOT use Excel to avoid discrepancy in the answers. 327.09Php 355.67Php 355.66Php 327.90Php

The Filipino helper of Kim Tae Hyung bought a 23.2 cubic feet smart refrigerator for 198,095Php. She paid a 50,000Php downpayment and used her credit card to pay the balance on an installment basis monthly for 3 years. The interest rate charged is 8% compounded monthly. How much goes to the interest on the 26th payment? Please do NOT use Excel to avoid discrepancy in the answers. 327.09Php 355.67Php 355.66Php 327.90Php

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 11EB: Whole Leaves wants to upgrade their equipment, and on January 24 the company takes out a loan from...

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Pickles R Us is a pickle farm located in the Northeast. The following transactions take place: A. On November 6, Pickles borrows $820,000 from a bank to cover the initial cost of expansion. Terms of the loan are payment due in six months from November 6, and annual interest rate of 3%. B. On December 12, Pickles borrows an additional $200,000 with payment due in three months from December 12, and an annual interest rate of 10%. C. Pickles pays its accounts in full on March 12, for the December 12 loan, and on May 6 for the November 6 loan. Record the journal entries to recognize the initial borrowings, and the two payments for Pickles.
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Kiko bought a smart TV with Php 135,000. Assuming that there is no downpayment, Kiko needs to pay this amount regularly for 2 years. The interest rate is 6% compounded semi-annually. 1.How much is the interest payment for the first semi-annual period? 2.How much is the principal repayment for the first semi-annual period? 3.How much is the outstanding balance after the first payment? Kiko bought a smart TV with Php 135,000. Assuming that there is no downpayment, Kiko needs to pay this amount regularly for 2 years. The interest rate is 6% compounded semi-annually. 1.How much is the interest payment for the first semi-annual period? 2.How much is the principal repayment for the first semi-annual period? 3.How much is the outstanding balance after the first payment?
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