Mrs. Lim borrowed P400,000 from Mr. Sy on August 1, 2008 and P100,000 on August 1, 2010,agreeing that money is worth 5% compounded annually. Mrs. Lim paid P100,000 on August 1, 2011,P80,000 on June 1, 2012 and P140,000 on August 1, 2013. What additional sum should Mrs. Lim pay onAugust 1, 2016 to discharge all remaining liability?

Given: Mr. Lo borrowed P400,000 from Mr. Co on August 1, 2008 and P100,000 onAugust 1, 2010,…

Answered: porrowed P400,000 from Mr. hat money is…

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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Kk133.
nt 2 s/d/e/1FAlpQLSfqr9AkfTTNtEDdijdlH8qi7BUKNWL3InwTIrS AywgwjmAsw/formResponse O c) $41,111 d) $1,888 O e) None of the above 4. What's the present value of $10,000 received after 10 years if the appropriate interest rate is 10%, compounded annually? O a) $1,888 D) $3,855 O C) $3,802 Od) $852 O e) None of the above 5. What is the future value of a 5-year ardinary anhuity with annua payments of $200, evaluated at a 15 percent nterest rate? O aS 670.44
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porrowed P400,000 from Mr. hat money is worth 5% comp n June 1, 2012 and P140,00C