Submitted by Sydney Sales on June 29, 2016 - 1:26pm
jones corporation borrowed P 9000 from Brown Corporation on Jan. 1, 1978 and P12000 on Jan.1,1980.Jones Corporation made a partial payment of P 7000 on Jan. 1, 1981. it was agreed that was the balance of the loan woild be amortizes by two payments one of Jan. 1, 1982 and the other on Jan.1, 1983. The second being 50% larger than the first. If the interest rate is 12%. What is the amount of each payment.