FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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HCH6Q1. Mr. Khalid bought a OMR 40000 furniture at Homcenter.com. He made a down payment of OMR 4000. He decided to use Bank Muscat for his mortgage. They were offering 7.50% for 10-year mortgage. at of Amortization Table (Partial- Mortgage principal and interest per 1000) estion 6,60% 7.00% 90% 7267 11.39 10 16 9.59 9.00 3.00% 10.86 9.51 8.18 10 11.11 9.76 8.44 11.36 10.02 8.72 11.62 11.88 12.14 12 $15 10.29 8.99 12.40 11.11 10.56 10.83 9.56 9.28 9.85 17 7.56 6.88 7.84 8.12 8.40 7.76 8.69 8.06 8.99 9.29 20 7.17 7.46 8.37 8.68 Using above information you are required to calculate the following: (i) Find the monthly payment for Mr. Khalid OMR 475.20 OMR 39797.32 OMR 39775 OMR 35797.32 OMR 35775 (ii) Calculate the balance of payment (outstanding balance) at the end of 1stpayment
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Transcribed Image Text:HCH6Q1. Mr. Khalid bought a OMR 40000 furniture at Homcenter.com. He made a down payment of OMR 4000. He decided to use Bank Muscat for his mortgage. They were offering 7.50% for 10-year mortgage. at of Amortization Table (Partial- Mortgage principal and interest per 1000) estion 6,60% 7.00% 90% 7267 11.39 10 16 9.59 9.00 3.00% 10.86 9.51 8.18 10 11.11 9.76 8.44 11.36 10.02 8.72 11.62 11.88 12.14 12 $15 10.29 8.99 12.40 11.11 10.56 10.83 9.56 9.28 9.85 17 7.56 6.88 7.84 8.12 8.40 7.76 8.69 8.06 8.99 9.29 20 7.17 7.46 8.37 8.68 Using above information you are required to calculate the following: (i) Find the monthly payment for Mr. Khalid OMR 475.20 OMR 39797.32 OMR 39775 OMR 35797.32 OMR 35775 (ii) Calculate the balance of payment (outstanding balance) at the end of 1stpayment
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