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)A manufacture borrows P2,211,340 with interest at 6% compounded monthly, and agrees to discharge the loan by a sequence of equal monthly payments for 4

)A manufacture borrows P2,211,340 with interest at 6% compounded monthly, and agrees to discharge the loan by a sequence of equal monthly payments for 4 years with the first payment at the beginning of the 4th year. Find the periodic payment.

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