Acosta holdings borrowed P9000 from smith corporation on January1, 1998 and P12000 on January 1,2000.Acosta holdings made a partial payment of P7000 on January1, 2001.It was agreed that the balance of the loan would be amortized by two payments. One on January 1,2002 and one January 1,2003.The second being 50% larger than the first.If the interestrate is 12%, what is the amount of each payment?

Acosta holdings borrowed P9000 from smith corporation on January1, 1998 and P12000 on January 1,2000.Acosta holdings made a partial payment of P7000 on January1, 2001.It was agreed that the balance of the loan would be amortized by two payments. One on January 1,2002 and one January 1,2003.The second being 50% larger than the first.If the interestrate is 12%, what is the amount of each payment?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 19P

See similar textbooks

Similar questions

Sagip Corporation borrowed P 9000 from Kalinga Corporation on Jan 1, 2000 and P 12000 on Jan 1, 2002. Sagip corporation made a partial payment of P 7000 on Jan 1, 2003. It was agreed that the balance of the loan would be amortized by two payments one of Jan 1, 2004 and the other on Jan 1, 2005, the second being 60% larger than the first. If the interest rate is 12%, what is the amount of the larger payment? P 14082.01 P 15082.03 P 9426.27 P 8801.25
Jones Corporation borrowed P80,000 from Brown Corporation on Jan 1,1993 and P12,000 on Jan 1, 1995. Jones Corporation made a partial payment of P10,000 on Jan 1, 1996. It was agreed that the balance of the loan will be amortized by two payments, one on Jan. 1, 1997 and the other on Jan. 1, 1998, the second being 60% larger than the first. If the interest rate is 12%, what is the amount of each payment?
Jones Corporation borrowed P9, 000 from Brown Corporation on Jan. 1, 1978 and P12, 000 on Jan. 1, 1980. Jones Corporation made a partial payment of P7, 000 on Jan. 1, 1981. It was agreed that the balance of the loan would be amortizes by two payments one of Jan. 1, 1982 and the other on Jan. 1, 1983, the second being 50%larger than the first. If the interest rate is 12%. What is the amount of X?
Jones Corporation borrowed ₱9,000 from Brown Corporation on Jan. 1, 1978 and₱12,000 on Jan. 1, 1980. Jones Corporation made a partial payment of ₱7,000 on Jan. 1, 1981. It was agreed that the balance of the loan would be amortized by twopayments, one of Jan. 1, 1982 and the other on Jan. 1, 1983, the second being 50% larger than the first. If the interest rate is 12%, what is the amount of each payment?Ans: ₱9,136.91; ₱13,705.36
Sanchez corporation borrowed a working capital from Barroga Corporation for two consecutive years – Php 96000 and Php 103540, on January 1, 1996 and January 1, 1997, respectively. Sanchez corporation made a partial payment of Php 79900 on January 1, 2000 and agreed with the lender that the balance of the loan would be amortized by 8 equal payments. The interest rate of the loan is 16% compounded semiannually. Find the amount of each payment.
Jones Corporation borrowed $ 9,000 from Brown Corporation on 1978 and $12,000 on 1980. Jones Corporation made a partial payment of $ 7,000 on 1981. It was agreed that the remaining balance of the loan would be paid by two payments, one on 1982 and the other on 1983, the second being 50% larger than the first. If the interest rate is 12% compounded annually. a) What is the amount of the first payment? b) What is the amount of the second payment?
Sanchez corporation borrowed a working capital from Barroga Corporation for two consecutiveyears – Php 101250 and Php 105621, on January 1, 1996 and January 1, 1997, respectively. Sanchezcorporation made a partial payment of Php 79200 on January 1, 2000 and agreed with the lender thatthe balance of the loan would be amortized by 9 equal payments. The interest rate of the loan is12.5% compounded semiannually. Find the amount of each payment.
Megabank granted an 8% 3-year loan to Global Company on January 1, 2018. The interest on the loan is payable every December 31. Megabank incurred P148,122 of direct origination cost but an origination fee of P300,000 was charged against Global Company. The effective rate on the loan as a result of the origination fee and cost is now 9%. What is the amortized cost of the loan on December 31, 2019 in Megabank's accounting book ?
The payment necessary to amortize a 5.7% loan of $97000 compounded annually, with 5 annual payments is $22,839.84. The total of the payments is $114,199.20 with a total interest payment of $17,199.20. The borrower made larger payments of $23,000.00. Calculate (a) the time needed to pay off the loan, (b) the total amount of the payments, and (c) the amount of interest saved. a. The time needed to pay off the loan with payments of $23,000.00 is _____ years. (Round up to the nearest year.) b. The total amount of the payments is $______ (Round to the nearest cent as needed.) c. The amount of interest saved is $______. (Round to the nearest cent as needed.)
the payment necessary to amortize a 4.8% loan of $81000 compounded annually with 7 annual payments is $13897. The total of the payments is $97279.77 with a total interest payment of $16279.77. The borrower made larger payments of $14000.00. Calculate (a) the time needed to pay off the loan, (b) the total amount of the payments, and (c) the amount of interest saved. Question content area bottom Part 1 a. The time needed to pay off the loan with payments of $14,000.00 is (Round up to the nearest year.) b. The total amount of the payments is $ (Round to the nearest cent as needed. c. The amount of interest saved is $ (Round to the nearest cent as needed.)
On January 1, 2018, Kline Inc. borrowed P9,000 from Harvard Co., and on January 1, 2020, it borrowed P12,000. On January 1, 2021, Kline Inc. paid a P7,000 half payment. The loan balance would be amortized over two payments, one on January 1, 2022 and the other on January 1, 2023, with the second payment being 50 percent bigger than the first. What is the amount of each payment if the interest rate is 10%?With a bit of explanation please.
ABC Corporation will be acquiring a P3,000,000 face value loan three months from now. It entered into an IRG 3-6 to set the interest rate of the loan to 8%. It paid P20,000 for the IRG. With this contract, what is the maximum simple effective interest rate relating to loan?