Skip to Content

Accounting 2006 – Phantom Limited Borrows $100,000 At An Interest Rate

Submitted by • October 19, 2018

Phantom Limited borrows $100,000 at an interest rate of 12% per annum compounding monthly, repayable by equal monthly instalments over 20 years. Calculate the principal and interest components of the first repayment.

Voted by:
Voted by Admiin

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>