Just determine if they are simple or general annuities 1. Payments are made at the end of
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1. Payments are made at the end of every three months for a loan that charges 3% interest compounded quarterly. 2. Deposits of P1000 are made at the end of every three months to an account that earns 5% interest compounded semiannually. 3. Mr. Padilla pays at the end of every month for a loan that charges 6% interest compounded monthly. 4. Ms. Sarmiento deposits P2 000 at the beginning of every month to her account that earns 4% interest compounded semiannually. 1. Payments are made at the end of every three months for a loan that charges 3% interest compounded quarterly. 2. Deposits of P1000 are made at the end of every three months to an account that earns 5% interest compounded semiannually. 3. Mr. Padilla pays at the end of every month for a loan that charges 6% interest compounded monthly. 4. Ms. Sarmiento deposits P2 000 at the beginning of every month to her account that earns 4% interest compounded semiannually.
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1Simple annuity Since payments are made every three months and interest is compou... View the full answer
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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