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Denver borrowed P9,000 from Rio today and P12,000 two years after and made a partial payment of P7,000 one year after. It was agreed that

Denver borrowed P9,000 from Rio today and P12,000 two years after and made a partial payment of P7,000 one year after. It was agreed that the balance of the loan would be amortized by two payments on the 4th and 5th year from the start of transaction, the second being 50% larger than the first, if the interest rate is 12%, what is the amount of each payment?

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