CPLF borrows P2,500,000 from Bank DAAE at 11% interest to be paid at the end of each year for 15 years. Find for the annual total payments under (a) equal annual amortization and (b) equal principal payment methods. Construct a complete amortization schedule (as shown below) for each scheme.

CPLF borrows P2,500,000 from Bank DAAE at 11% interest to be paid at the end of each year for 15 years. Find for the annual total payments under (a) equal annual amortization and (b) equal principal payment methods. Construct a complete amortization schedule (as shown below) for each scheme.

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter22: End-of-fiscal-period Work For A Corporation

Section22.1: Preparing Adjusting Entries

Problem 1AYU

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Question

Complete Ammortization Table Schedule
Year
Outstanding
balance
Principal
Payment
Interest Payment Total Payment
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Total

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