Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please do on excel ( no hand written ) A man has P60,00 debt which is to be paid in equal semi-annual payments of P6,000

image text in transcribed

please do on excel ( no hand written )

image text in transcribed

A man has P60,00 debt which is to be paid in equal semi-annual payments of P6,000 each at 15%, and a smaller final payment to be made six months after the last regular payment of P6,000 is made. a. How many regular payments of P6,000 are needed? b. Find the outstanding balance after the 12th payment. c. What is the smaller final payment if it is made one period after the last regular payment of P6,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Management Measuring Monitoring And Motivating Performance

Authors: Leslie G. Eldenburg, Susan Wolcott, Liang Hsuan Chen, Gail Cook

2nd Canadian Edition

1118168879, 9781118168875

More Books

Students also viewed these Accounting questions

Question

What is meant by the term management theory jungle?

Answered: 1 week ago