Please help me CVT Car parts shop borrowed 11,718.32 from Francois' Lending on Jan. 1, 2018and 9,199.64 after two years. CVT Car parts shop made a partial payment of P7,000 on Jan. 1, 2021.It was agreed that the balance of the loan would be amortizes by two paymentsone of Jan. 1, 2022 and the other on Jan. 1, 2023, the second being 25% largerthan the first. If the interest rate is 0.102. What is the amount of the last payment?

Future Value of loan = Principal*(1+r)n r is interest rate and n is time period of loan

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Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 10MC: On January 1, 2019, Park Company accepted a 36,000, non-interest-bearing, 3-year note from a major...

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