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10. Mr. Coronacion acquired a resort by making a P 4M down payment and a sequence of P400,000 payments made at the end of each
10. Mr. Coronacion acquired a resort by making a P 4M down payment and a sequence of P400,000 payments made at the end of each year for 5 years. If money is worth 11% effective rate computed annually, how much is the cash price of the resort?
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