Ms. Hailey would like to avail a laundry set payable quarterly for 1 year. How much is the cost of the laundry set if her monthly payment is P1220 and interest is 6% compounded monthly? Identify the given: REP payments (in decimal form) m 1 - (round off to four decimal places) Using 1 (in four decimal places), the cost of the laundry set is (round off to two decimal places)