A loan was to be amortized by a four end-of-year payments forming an ascending arithmetic progression. The initial payment was to be P100,000 and the difference between successive payment was to be P1,000. But the loan was renegotiated to provide for a single payment on the fifth year. If the interest of the loan was 12%, what was the single payment? Present Cash Flow

a. P542,558 b. P11,088 c. P10,180 d. P11,487 e. P 10,359