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1. Mr. Villanueva borrowed Php 60,000.00 for enrollment of his son in college from a bank. He agreed to pay the principal and the interest

1. Mr. Villanueva borrowed Php 60,000.00 for enrollment of his son in college from a bank. He agreed to pay the principal and the interest by paying monthly for 12 months at 9% interest compounded monthly. How much is the monthly installment

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