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84. Mr. Repalam secured a loan from a local bank in the amount of P 3.5 M at an interest rate of 12% compounded monthly.

84. Mr. Repalam secured a loan from a local bank in the amount of P 3.5 M at an interest rate of 12% compounded monthly. He agreed to pay back the loan in 36 equal monthly installments. Immediately after his 12th payment, Mr. Repalam decides to pay off the remainder of the loan in a lump sum. This lump sum payment is closest to a) P 1,950,000 b) b) P 2,042,779 c) P2,469,546 d) P 2,548,888

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