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Outstanding Principal Component of Payment Interest Regular Payment Period Balance Component of Payment 1 10,000 21,547.08 78,452.92 C 54,751.13 31,547.08 31,547.08 5,475.11 26,071.97 28,679.16 4. 31,547.08 2,887.92 28,679.16 Totals A. How much is the amount of the loan? B. How much is the payment on the first period? C. For the second payment, how much goes to pay the interest? D. For the second payment, how much goes to pay the principal? E. How much is the outstanding balance after the 4 payment?

Outstanding Principal Component of Payment Interest Regular Payment Period Balance Component of Payment 1 10,000 21,547.08 78,452.92 C 54,751.13 31,547.08 31,547.08 5,475.11 26,071.97 28,679.16 4. 31,547.08 2,887.92 28,679.16 Totals A. How much is the amount of the loan? B. How much is the payment on the first period? C. For the second payment, how much goes to pay the interest? D. For the second payment, how much goes to pay the principal? E. How much is the outstanding balance after the 4 payment?

Intermediate Accounting: Reporting And Analysis
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
Chapter9: Current Liabilities And Contingent Obligations
Section: Chapter Questions
Problem 20GI
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Solve the problem completely. 4. Study the amortization schedule and fill in the blanks. A loan amounting to ₱100,000 is to be paid annually for 4 years with an interest rate of 10% per annum. The annual amortization is ₱31,547.08 of payment.
Outstanding Principal Component of Payment Interest Regular Payment Period Balance Component of Payment 1 10,000 21,547.08 78,452.92 C 54,751.13 31,547.08 31,547.08 31,547.08 26,071.97 28,679.16 5,475.11 28,679.16 4 2,887.92 Totals A. How much is the amount of the loan? B. How much is the payment on the first period? C. For the second payment, how much goes to pay the interest? D. For the second payment, how much goes to pay the principal? E. How much is the outstanding balance after the 4 payment? O 2 3A
Transcribed Image Text:Outstanding Principal Component of Payment Interest Regular Payment Period Balance Component of Payment 1 10,000 21,547.08 78,452.92 C 54,751.13 31,547.08 31,547.08 31,547.08 26,071.97 28,679.16 5,475.11 28,679.16 4 2,887.92 Totals A. How much is the amount of the loan? B. How much is the payment on the first period? C. For the second payment, how much goes to pay the interest? D. For the second payment, how much goes to pay the principal? E. How much is the outstanding balance after the 4 payment? O 2 3A
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