Determine the outstanding balance of an electronic gadget which was bought with a down payment of P20,000 and a regular payment of P2799 every month for 24 months at 2 1/2% compounded monthly. A P65,457.77 B) P88,810.28 C) P68,810.28 D P85,457.77

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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Determine the outstanding balance of an electronic gadget which was bought with a down payment of P20,000 and a regular
payment of P2799 every month for 24 months at 2 1/2% compounded monthly.
(A) P65,457.77
B P88,810.28
P68,810.28
P85,457.77
Transcribed Image Text:Determine the outstanding balance of an electronic gadget which was bought with a down payment of P20,000 and a regular payment of P2799 every month for 24 months at 2 1/2% compounded monthly. (A) P65,457.77 B P88,810.28 P68,810.28 P85,457.77
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