Barbie and Ken agrees to lend Dora money in exchange of monthly payments of P = P 5,000 begin- ning Mar. 14, 2023 until Feb.14, 2024. Money is worth 7.2% payable monthly. P P P + 12/14 1/14 2/14 3/14 4/14 7/14 P + P + 8/14 9/14 P P P + + 2/14 3/14 12/14 1/14 5/14 (1) How much is did Dora borrowed today? (2) Dora failed to settle all monthly dues scheduled but Barney's collection agency who represents Ken and Barbie waives penalties due to payment default and allowed her to settle all amount dues plus interest on May 14, 2024. How much is the total amount due that she should settle with Barney? (3) Dora wishes to pay Ken and Barbie in one lump sum amount on August 14, 2023. How much in total is she allowed pay on that day to discharge the entire loan? (4) Dora decided to continue the payment thru Sept. 14, 2023. How much is her remaining payments due after this 9/14 payment? (5) How much must Dora pay instead of P5,000 monthly, if she wishes to borrow P60,000 from Ken and Barbie on Dec. 14, 2022?

Barbie and Ken agrees to lend Dora money in exchange of monthly payments of P = P 5,000 begin- ning Mar. 14, 2023 until Feb.14, 2024. Money is worth 7.2% payable monthly. P P P + 12/14 1/14 2/14 3/14 4/14 7/14 P + P + 8/14 9/14 P P P + + 2/14 3/14 12/14 1/14 5/14 (1) How much is did Dora borrowed today? (2) Dora failed to settle all monthly dues scheduled but Barney's collection agency who represents Ken and Barbie waives penalties due to payment default and allowed her to settle all amount dues plus interest on May 14, 2024. How much is the total amount due that she should settle with Barney? (3) Dora wishes to pay Ken and Barbie in one lump sum amount on August 14, 2023. How much in total is she allowed pay on that day to discharge the entire loan? (4) Dora decided to continue the payment thru Sept. 14, 2023. How much is her remaining payments due after this 9/14 payment? (5) How much must Dora pay instead of P5,000 monthly, if she wishes to borrow P60,000 from Ken and Barbie on Dec. 14, 2022?

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter4: Gross Income: Concepts And Inclusions

Section: Chapter Questions

Problem 21CE

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