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3. A man bought a property and paid P100,000 cash and agreed to pay P20,000 at the end of each 6 months for 5 years.
3. A man bought a property and paid P100,000 cash and agreed to pay P20,000 at the end of each 6 months for 5 years. He failed to pay the first 5 payments. At the end of 3 years, he is required to pay the seller the entire debt consisting of his accumulated and future liabilities, otherwise, the property will be foreclosed. What must he pay if money is worth 14% compounded semi-annually
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