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 3-11is to be repaid at a rate of $4,000 per yearplus the interest that is owed and based onthe beginning-of-year unpaid principal. Com-pute the total amount of interest repaid in thissituation and compare it with that of Problem3-11. Why are the two amounts different: S11. A present obligation of $20;000 is to be re-paid in equal uniform annual amounts, each ofwhich includes repayment of the debt (princi-pal) and interest on the debt, over a period of 5years. If the interest rate per year is 10%, whatis the amount of the annual repayment?

The given first question is based on equated annual installment

Answered: someone solve Question 3.12 while…

Business

Accounting

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

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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Question

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:

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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