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A buyer is buying an appliance at P 5,000 down payment and the rest at monthly installment of P 1,500 each for the next 2

A buyer is buying an appliance at P5,000 down payment and the rest at monthly installment of P1,500 each for the next 2 years. Determine the cash prize of the said appliance if interest rate is at 6% compounded monthly.

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