b. The Cauayan Consumers Cooperative has taken out a 10-year mortgage for P92, 000 at an annual rate of 5%. A table for the monthly payment on P1, 000 loan is used in finding the monthly amortization. Complete the amortization schedule below. Round off your final answer to the nearest cent. Payment Number Monthly Payment Interest Paid on Balance Paid Principal P92, 000 1 2

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Find the purchase price of each bond bought on the given dividend date. Use another sheet of paper for
your solution.
a. Atty. Bustamante agreed to sell her condominium unit to a campanera worth 2.4 million pesos in two
payment schedules: On the first 5 months, the price of the unit is amortized at 3% quarterly. The balance
amount will be paid at 4% semiannually for 7 months. Prepare the amortization schedule.
b. The Cauayan Consumers Cooperative has taken out a 10-year mortgage for P92, 000 at an annual rate of
5%. A table for the monthly payment on PI, 000 loan is used in finding the monthly amortization. Complete the
amortization schedule below. Round off your final answer to the nearest cent.
Monthly
Payment
Paid on
Payment
Number
Interest
Balance
Paid
Principal
P92, 000
1
2
3
Transcribed Image Text:Find the purchase price of each bond bought on the given dividend date. Use another sheet of paper for your solution. a. Atty. Bustamante agreed to sell her condominium unit to a campanera worth 2.4 million pesos in two payment schedules: On the first 5 months, the price of the unit is amortized at 3% quarterly. The balance amount will be paid at 4% semiannually for 7 months. Prepare the amortization schedule. b. The Cauayan Consumers Cooperative has taken out a 10-year mortgage for P92, 000 at an annual rate of 5%. A table for the monthly payment on PI, 000 loan is used in finding the monthly amortization. Complete the amortization schedule below. Round off your final answer to the nearest cent. Monthly Payment Paid on Payment Number Interest Balance Paid Principal P92, 000 1 2 3
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