A company borrowed P45,200 from a savings and loan association that charges 14% converted quarterly. To pay off the loan, the company promised to pay P2,000 every 3 months. a. When will the company make the last P2,000 payment? b. Find the final irregular payment if it is made 3 months after the last regular payment date. c. Find the final irregular payment if it is made on the day of the last regular payment
A company borrowed P45,200 from a savings and loan association that charges 14% converted quarterly. To pay off the loan, the company promised to pay P2,000 every 3 months. a. When will the company make the last P2,000 payment? b. Find the final irregular payment if it is made 3 months after the last regular payment date. c. Find the final irregular payment if it is made on the day of the last regular payment
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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A company borrowed P45,200 from a savings and loan association that charges 14% converted quarterly. To pay off the loan, the company promised to pay P2,000 every 3 months.
a. When will the company make the last P2,000 payment?
b. Find the final irregular payment if it is made 3 months after the last regular payment date.
c. Find the final irregular payment if it is made on the day of the last regular payment.
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