1. A man paid 10% down payment of P1,000,000 for a house and lot this month of January. The rate of interest is 20% compounded quarterly. He agrees to pay after 5 months his balance on a 6 monthly installment. Compute for the following. (1) Effective Interest C = Blank 1 K = Blank 2 Thus, ieff = Blank 3 NOTE: Show in 4 decimal places. (2) Amount of the Monthly Installment = PHP Blank 4

1. A man paid 10% down payment of P1,000,000 for a house and lot this month of January. The rate of interest is 20% compounded quarterly. He agrees to pay after 5 months his balance on a 6 monthly installment. Compute for the following. (1) Effective Interest C = Blank 1 K = Blank 2 Thus, ieff = Blank 3 NOTE: Show in 4 decimal places. (2) Amount of the Monthly Installment = PHP Blank 4

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...

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A man paid 10% down payment of P1,500,000 for a house and lot this month of January. The rate of interest is 15% compounded semi-annually. He agrees to pay after 3 months his balance on a 6 monthly installment. Compute for the following. (1) Effective Interest C = K = ieff =
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