Question
CVT Car parts shop borrowed 11,718.32 from Francois Lending on Jan. 1, 2018 and 9,199.64 after two years. CVT Car parts shop made a partial
CVT Car parts shop borrowed 11,718.32 from Francois Lending on Jan. 1, 2018 and 9,199.64 after two years. CVT Car parts shop made a partial payment of P7, 000 on Jan. 1, 2021.
It was agreed that the balance of the loan would be amortizes by two payments one of Jan. 1, 2022 and the other on Jan. 1, 2023, the second being 25% larger than the first. If the interest rate is 0.102. What is the amount of the last payment?
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Governmental Accounting
Authors: Steven M. Bragg
2022nd Edition
1642210781, 978-1642210781
