Clark borrows P 600,000 at 15% compounded annually agreeing to repay theloan in 15 equal payments. How much of the original principal is still unpaid afterhe has made the 9th payment?P 288,327P 388,327P 202,040P 402,040

Loan amount (PV) = P600,000 Interest rate (r) = 15% Number of payments (n) = 15

Answered: Clark borrows P 600,000 at 15%…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...

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Clark borrows P 600,000 at 15% compounded annually agreeing to repay the loan in 15 equal payments. How much of the original principal is still unpaid after he has made the 9th payment? O P 288,327 P 388,327 O P 202,040 O P 402,040