Answered: the final payment being on 1st of…

the final payment being on 1st of August 2024, total amount of the annuity is _ calculated on the basis of an interest rate of 8% p.a effective

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...

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Question

100%

On Ist of November 2005, a man was in receipt of a 250 USD
per annum payable monthly on the first day of each month,
the final payment being on 1st of August 2024, total amount of
the annuity is calculated on the basis of an interest
rate of 8% p.a effective
Select one:
O a. 1,115 USD
O b. 734 USD
O c. 850 USD
O d. 2,460 USD
O e. 1,850 USD

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