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Mr. Chris Chan invested P1,000,000 to start the business. The firm obtained a note from Mars Bank amounting to P200,000. The note bears a 6%

Mr. Chris Chan invested P1,000,000 to start the business. The firm obtained a note from Mars Bank amounting to P200,000. The note bears a 6% annual interest payable every June 1 of the following year. The principal is payable in two (2) equal annual installments

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