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solve the following using the concept of amortization 1.Show the amprtization schedule for a loan ₱15.000 at 4% interest compounded monthly, payable for 12 months

solve the following using the concept of amortization 1.Show the amprtization schedule for a loan ₱15.000 at 4% interest compounded monthly, payable for 12 months

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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solve the following using the concept of amortization 1.Show the amprtization schedule for a loan ₱15.000 at 4% interest compounded monthly, payable for 12 months
Solve the following problems using the concept of amortization 1. Show the amortization schedule for a loan P15,000 at 4% interest compounded monthly, payable for 12 months. 2. ABC Realty sold a piece of land for P250,000. A down payment of P50,000 was made and the remainder is to be paid in equal semiannual installments, the first due 6 months after the date of sale. The interest is 8% compounded semiannually and the debt is to be amortized in 5 years. a. How much semiannual payment is required? b. What will the total amount of the payment be? How much interest will be paid? d. What is the total cost of the property? С. e. Prepare an amortization schedule for the present value of the loan after making the down payment.
Transcribed Image Text:Solve the following problems using the concept of amortization 1. Show the amortization schedule for a loan P15,000 at 4% interest compounded monthly, payable for 12 months. 2. ABC Realty sold a piece of land for P250,000. A down payment of P50,000 was made and the remainder is to be paid in equal semiannual installments, the first due 6 months after the date of sale. The interest is 8% compounded semiannually and the debt is to be amortized in 5 years. a. How much semiannual payment is required? b. What will the total amount of the payment be? How much interest will be paid? d. What is the total cost of the property? С. e. Prepare an amortization schedule for the present value of the loan after making the down payment.
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