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After receiving year end bonus, Niel wants to buy a Honda motorcycle which is at installment basis of P4,000 per month compounded monthly for 5%

After receiving year end bonus, Niel wants to buy a Honda motorcycle which is at installment basis of P4,000 per month compounded monthly for 5% within 2 years. If the payment will start at the end of 4 months, what is the present value of the motorcycle?

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