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Solve the problem by showing your computation. All FINAL ANSWERS should be rounded-off in thousandths (THREE DECIMAL PLACES). Problem: A debt of P8,800, with interest
Solve the problem by showing your computation. All FINAL ANSWERS should be rounded-off in thousandths (THREE DECIMAL PLACES). Problem: A debt of P8,800, with interest at 5% payable semi-annually, will be discharged by payments of P1,200 at the end of each 8 periods as long as necessary, with a final smaller payment 8 periods after the last P1,200 is paid due to COVID-19. 1. How much will be the Beginning Amount after the last period? (5 points) 2. How much will be the Final Payment after the last period? (5 points) 3. How much will be the Interest after the last period? (5 points) 4. Supply the necessary data on the Amortization Schedule found below. (45 points) PERIOD PAYMENT BEGINNING AMOUNT P INTEREST RE-PAYMENT ENDING BALANCE P P P P
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