A company borrowed P45,200 from a savings and loan association that charges 14% converted quarterly. To pay off the loan, the company promised to pay P2,000 every 3 months. a. When will the company make the last P2,000 payment? b. Find the final irregular payment if it is made 3 months after the last regular payment date. c. Find the final irregular payment if it is made on the day of the last regular payment

A company borrowed P45,200 from a savings and loan association that charges 14% converted quarterly. To pay off the loan, the company promised to pay P2,000 every 3 months. a. When will the company make the last P2,000 payment? b. Find the final irregular payment if it is made 3 months after the last regular payment date. c. Find the final irregular payment if it is made on the day of the last regular payment

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 1PB: Sub-Cinema Inc. borrowed $10,000 on Jan. 1 and will repay the loan with 12 equal payments made at...

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