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7. To pay off a P100,000 loan, it is required that 20 semi -annual payments that is increased by P500.00 be made . Determine the

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7. To pay off a P100,000 loan, it is required that 20 semi -annual payments that is increased by P500.00 be made . Determine the amount of the first payment if it is due six months after the loan is made and interest Is 7% compounded semi-annually. A) B) P7,036 P4,182 C) D) P2,854 P102,038

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