Question
A man agreed to pay the loan he is borrowing from the bank in six (6) equal end of the year payments of P71,477.70. Interest
A man agreed to pay the loan he is borrowing from the bank in six (6) equal end of the year payments of P71,477.70. Interest is 18% per annum compounded annually and is included in the yearly amount he will be paying in the bank. How much is the man borrowing from the bank?
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Fundamental accounting principle
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
21st edition
978-0078025587
