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Consider a loan of Php 40,000, payable for 24 months at an interest rate of 8% compounded monthly. The periodic payment is computed at P1,809.09.

Consider a loan of Php 40,000, payable for 24 months at an interest rate of 8% compounded monthly. The periodic payment is computed at P1,809.09. What is the interest for the first period?

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Php150.76 Php133.33 Php226.14 Php266.67

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