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A car dealer advertises the sale of a car model for a cash price of P280,000.00. If purchased on installment, the required down payment is

A car dealer advertises the sale of a car model for a cash price of P280,000.00. If purchased on installment, the required down payment is 15%, and the balance payable in 18 equal monthly installments at an interest rate of 1.5% per month. How much will be the required monthly payments?

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