The following are three notes held by SANDMAN Company starting January 1, 2019: a. 5 year term note, bearing 10% interest, face amount P1,000,000. b. 5 year term note, bearing 14% interest, face amount P1,000,000. 3. year term note, bearing 10% interest, pays semiannually, face amount P1,500,000. C. The effective interest rate for these notes is 12%. Determine the following amounts:

The following are three notes held by SANDMAN Company starting January 1, 2019: a. 5 year term note, bearing 10% interest, face amount P1,000,000. b. 5 year term note, bearing 14% interest, face amount P1,000,000. 3. year term note, bearing 10% interest, pays semiannually, face amount P1,500,000. C. The effective interest rate for these notes is 12%. Determine the following amounts:

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money

Section: Chapter Questions

Problem 9.6AP

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