Kiko bought a smart TV with Php 135,000. Assuming that there is no downpayment, Kiko needs to pay this amount regularly for 2 years. The interest rate is 6% compounded semi-annually. 1.How much is the interest payment for the first semi-annual period? 2.How much is the principal repayment for the first semi-annual period? (The answer is not 33750) 3.How much is the outstanding balance after the first payment? (The answer is not 101250)

Kiko bought a smart TV with Php 135,000. Assuming that there is no downpayment, Kiko needs to pay this amount regularly for 2 years. The interest rate is 6% compounded semi-annually. 1.How much is the interest payment for the first semi-annual period? 2.How much is the principal repayment for the first semi-annual period? (The answer is not 33750) 3.How much is the outstanding balance after the first payment? (The answer is not 101250)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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