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13. Melvin availed of a loan from a bank that gave him an option to pay P20,000 monthly for 2 years . The first

13. Melvin availed of a loan from a bank that gave him an option to pay P20,000 monthly for 2 years . The first payment is due after 4 months. How much is the present value of the loan if the interest rate is 10% converted monthly? e.) P422,795.78 f.) P422,759.78 g.) P422,579.78 h.) P422,597.78

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