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4. During his younger year, Juan always deposits a portion of his salary equivalent to P16,750.00 monthly to his savings account. Retiring after 40 years,

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4. During his younger year, Juan always deposits a portion of his salary equivalent to P16,750.00 monthly to his savings account. Retiring after 40 years, he was now able to reap his hard work through his pension. If he is to receive his pension every three months, how much would he receive every time he does? Assume the nominal interest rate of his savings account 13% compounded monthly. (4 pts)

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