1) How much is did Dora borrowed today? 2) Dora failed to settle all monthly dues scheduled but Barney's collection agency who represents Ken and Barbie waives penalties due to payment default and allowed her to settle all amount dues plus interest on May 14, 2024. How much is the total amount due that she should settle with Barney? 3) Dora wishes to pay Ken and Barbie in one lump sum amount on August 14, 2023. How much in total is she allowed pay on that day to discharge the entire loan? 4) Dora decided to continue the payment thru Sept. 14, 2023. How much is her remaining payments due after this 9/14 payment? 5) How much must Dora pay instead of P 5,000 monthly, if she wishes to borrow P 60,000 from Ken and Barbie on Dec. 14 20222
1) How much is did Dora borrowed today? 2) Dora failed to settle all monthly dues scheduled but Barney's collection agency who represents Ken and Barbie waives penalties due to payment default and allowed her to settle all amount dues plus interest on May 14, 2024. How much is the total amount due that she should settle with Barney? 3) Dora wishes to pay Ken and Barbie in one lump sum amount on August 14, 2023. How much in total is she allowed pay on that day to discharge the entire loan? 4) Dora decided to continue the payment thru Sept. 14, 2023. How much is her remaining payments due after this 9/14 payment? 5) How much must Dora pay instead of P 5,000 monthly, if she wishes to borrow P 60,000 from Ken and Barbie on Dec. 14 20222
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 2STP
Related questions
Question
please answer number 4 & 5 only, thank you show the solution
Transcribed Image Text:Barbie and Ken agrees to lend Dora money in exchange of monthly payments of P = P 5,000 begin-
ning Mar. 14, 2023 until Feb.14, 2024. Money is worth 7.2% payable monthly.
P P P
P
P
12/14 1/14 2/14 3/14 4/14
7/14
8/14 9/14
PP P
12/14 1/14 2/14 3/14
5/14
(1) How much is did Dora borrowed today?
(2) Dora failed to settle all monthly dues scheduled but Barney's collection agency who represents Ken
and Barbie waives penalties due to payment default and allowed her to settle all amount dues plus
interest on May 14, 2024. How much is the total amount due that she should settle with Barney?
(3) Dora wishes to pay Ken and Barbie in one lump sum amount on August 14, 2023. How much in total
is she allowed pay on that day to discharge the entire loan?
(4) Dora decided to continue the payment thru Sept. 14, 2023. How much is her remaining payments
due after this 9/14 payment?
(5) How much must Dora pay instead of P 5,000 monthly, if she wishes to borrow P 60,000 from Ken
and Barbie on Dec. 14, 2022?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you