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A man paid a 10 % down payment of P200, 000 for a house and lot and agreed to pay the 90 % balance on

A man paid a 10 % down payment of P200, 000 for a house and lot and agreed to pay the 90 % balance on monthly installments for 60 months at an interest rate of 15 % compounded monthly. Compute the amount of the monthly payment.

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