1. Gabriel bought a new car worth PhP 2M, He made a downpayment worth "X" pesos.After this, he must pay the balance in equal monthly payments for 5 years starting 3years from now. If the interest rate is 12% compounded monthly and the monthlypayment is worth PhP 50,000, determine the unknown downpayment X.A. PhP 1,586,720B. PhP 413,280C. PhP 313,280D. PhP 1,686,720

B. PhP 413,280 Explanation: The monthly payment will start 3 years from now, which means that if…

Answered: 1. Gabriel bought a new car worth PhP…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

1.1. A man bought a lot worth P1,000,000 if paid in cash. On the installment basis, he paid a downpayment of P200,000, P300,000 at the end of 1year, P400,000 at the end of 3years and a final payment at the end of 5yeats. What was the final payment if interest was 20%.?
3. A man pays 1.5% interest on his loan four times a year. Find the effective annual interest rate. 5. A property has a cash value of P150,000.00. The buyer agreed to pay P30,000.00 cas plus equal yearly payments for 15 years. If the oney is worth 14% to the owner of the property, how much must the buyer pay yearly?
1. A friend borrows an amount of P1,000. In 4 years, the money become P2,500 compounded monthly. Find the nominal interest rate.
Corey received a 30 year loan of $345,000 to purchase a house. The interest rate on the loan was 5.00% compounded semi-annually. Question 5 of 6 a. What is the size of the monthly loan payment? $0.00 Round to the nearest cent SUBMIT QUESTION SAVE PROGRESS
( please show solution
Lin took a loan of $10000 from Vancity credit union, the interest rate is 12% compounded monthly. Lin plans to pay off his loan in 10 years. What is the amount of interest in the 3rd payment? 111.25 $90.11 $99.13 $89.11
Grace borrowed P150,000 payable in 2 years. To repay the loan, she must pay an amount every month with an interest rate of 6% compounded monthly. How much should he pay every month? P6,468.09 P6,648.90 P6,648.09 P6,684.09
1. Pedro bought a new car today from Barboncito Motors. The former proposed to pay the latter the remaining balance of P800,000.00 in 35 equal monthly payments, with the first installment to be made one month from today, plus one final payment of P50,000.00 at the end of 36 months from date of agreement. If the interest rate applicable to the transaction is 12% compounded monthly, and assuming that there will be timely payments, how much is the amount of Pedro's Monthly Payment ?
1.A person buys a piece of lot P300,000 downpayment and 8 deferred quarterly payments of P8,000 each, starting 3 years from now . What is the present value of the investment if the rate is 12% compounded quarterly? 2. Mr Dela Cruz is left with an inheritance from his father. He has an option to receive P2.5 M at the end of 10 years, however he wishes to receive the money at the end of each year for 6 years. If interest rate is 8% how much would he receive every year?
6.
Economics Mr. A wants to receive a consistent amount from a bank that offers 6%o interest to be compounded annually. If he will delay his withdrawal for the first 5 years, how much should he deposit now to receive Php 100,000 every year for the next 10 years after the period of deferral? Find also the k
A man purchases a lot worth 5M if paid in cash. On installment basis, he paid P800000 down payment, P900000 at the end of the year, P1650000 at the end of the third year and the last payment at the end of the 6th. If money was worth 16%, what is the worth of the last payment? a. P 1,121,804.11 b. P 1,221,789.23 c. P 1,329,790.42 d. P 1,451,809.21

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS