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Jones Corporation borrowed ₱9,000 from Brown Corporation on Jan.1, 1978 and ₱12,000 on Jan. 1, 1980. Jones Corporation made apartial payment of ₱7,000 on Jan. 1, 1981. It was agreed that thebalance of the loan would be amortized by two payments, one of Jan.1, 1982 and the other on Jan. 1, 1983, the second being 50% largerthan the first. If the interest rate is 12%, what is the amount ofeach payment?
Ans: ₱9,136.91; ₱13,705.36