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A group of students ventured into business. They borrowed P50,000 to their parents to repay after 1 year. If money os worth 6% compounded monthly

A group of students ventured into business. They borrowed P50,000 to their parents to repay after 1 year. If money os worth 6% compounded monthly how much must the group set aside at the end of the month to repay the total amount capital they borrow?

Please help, thanks.

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