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PART A: Solve the problem by completing the amortization table. Problem: How is the yearly payment of a P660,000 loan which is to be repaid annually fc interest of 4.8% compounded annually? Show an amortization table. Solutions:

PART A: Solve the problem by completing the amortization table. Problem: How is the yearly payment of a P660,000 loan which is to be repaid annually fc interest of 4.8% compounded annually? Show an amortization table. Solutions:

FINANCIAL ACCOUNTING
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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Solution how to get Interest payment, principal repayment and outstanding principal? (The answer is already given just want know how to solve it?)
PART A: Solve the problem by completing the amortization table. Problem: How is the yearly payment of a P660,000 loan which iş to be repaid annually for 10 years with an interest of 4.8% compounded annually? Show an amortization table. Solutions:
Transcribed Image Text:PART A: Solve the problem by completing the amortization table. Problem: How is the yearly payment of a P660,000 loan which iş to be repaid annually for 10 years with an interest of 4.8% compounded annually? Show an amortization table. Solutions:
Period Periodic Payment Principal Repayment Interest Payment Outstanding Principal 1 P84,644.84 P52,964.84 P31,680.00 P607,035.16 2 P84,644.84 P55,507.15 P29,137.69 P551,528.01 3 P84,644.84 P58,171.50 P26,473.34 P493,356.51 4 P84,644.84 P60,963.73 P23,681.11 P432,392.78 P84,644.84 P63,889.99 P20,754.85 P368,502.80 6 P84,644.84 P66,956.71 P17,688.13 P301,546.09 7 P84,644.84 P70,170.63 P14,474.21 P231,375.47 P84,644.84 P73,538.82 P11,106.02 P157,836.65 P84,644.84 P77,068.68 P7,576.16 P80,767.97 10 P84,644.84 P80,767.98 P3,876.86 -P0.01 P846,448.40 P660,000.01 P186,448.39
Transcribed Image Text:Period Periodic Payment Principal Repayment Interest Payment Outstanding Principal 1 P84,644.84 P52,964.84 P31,680.00 P607,035.16 2 P84,644.84 P55,507.15 P29,137.69 P551,528.01 3 P84,644.84 P58,171.50 P26,473.34 P493,356.51 4 P84,644.84 P60,963.73 P23,681.11 P432,392.78 P84,644.84 P63,889.99 P20,754.85 P368,502.80 6 P84,644.84 P66,956.71 P17,688.13 P301,546.09 7 P84,644.84 P70,170.63 P14,474.21 P231,375.47 P84,644.84 P73,538.82 P11,106.02 P157,836.65 P84,644.84 P77,068.68 P7,576.16 P80,767.97 10 P84,644.84 P80,767.98 P3,876.86 -P0.01 P846,448.40 P660,000.01 P186,448.39
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