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A man loans P187,000 from a bank with interest at 5% compounded semi-annually. He agrees to pay his obligations by paying 8 equal annual payments,

A man loans P187,000 from a bank with interest at 5% compounded semi-annually. He agrees to pay his obligations by paying 8 equal annual payments, the first being due at the end of 10 years. Find the annual payments.

*CASH FLOW Diagram Needed

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