Solve for the following problems completely with solution.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. OutstandingRegularPaymentPrincipalComponent ofPaymentPeriodInterestComponent ofPaymentBalance10,00021,547.0878,452.921C54,751.1331,547.0831,547.0831,547.0826,071.9728,679.165,475.1128,679.162,887.92TotalsA. 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

A = Loan amount = 100,000.00 B = Regular Payment = 31,547.08 C =…

Answered: Outstanding Regular Payment Principal…

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 for the following problems completely with solution. 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
Regular
Payment
Principal
Component of
Payment
Period
Interest
Component of
Payment
Balance
10,000
21,547.08
78,452.92
1
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
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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