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? a.) P422,795.78 b.) P422,759.78 c.) P422,579.78 d.) P422,597.78 of mon for 20 years that will start 12 years from now. What is the period of deferral