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someone solve Question 3.12 while question 3.11 also given .solve it step by step not by excel

someone solve Question 3.12 while question 3.11 also given .solve it step by step not by excel

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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someone solve Question 3.12 while question 3.11 also given .solve it step by step not by excel

3-12. Suppose that the $20,000 in Problem 3-11 is to be repaid at a rate of $4,000 per year plus the interest that is owed and based on the beginning-of-year unpaid principal. Com- pute the total amount of interest repaid in this situation and compare it with that of Problem 3-11. Why are the two amounts different:
Transcribed Image Text:3-12. Suppose that the $20,000 in Problem 3-11 is to be repaid at a rate of $4,000 per year plus the interest that is owed and based on the beginning-of-year unpaid principal. Com- pute the total amount of interest repaid in this situation and compare it with that of Problem 3-11. Why are the two amounts different:
S11. A present obligation of $20;000 is to be re- paid in equal uniform annual amounts, each of which includes repayment of the debt (princi- pal) and interest on the debt, over a period of 5 years. If the interest rate per year is 10%, what is the amount of the annual repayment?
Transcribed Image Text:S11. A present obligation of $20;000 is to be re- paid in equal uniform annual amounts, each of which includes repayment of the debt (princi- pal) and interest on the debt, over a period of 5 years. If the interest rate per year is 10%, what is the amount of the annual repayment?
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