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3. An employee obtained a loan of P10000.00 at the rate of 6% compounded annually in order to repair a house. How much must he

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3. An employee obtained a loan of P10000.00 at the rate of 6% compounded annually in order to repair a house. How much must he pay monthly to amortize the loan within a period of 10 years? (Ans. P110.20 )

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