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To finance the operating requirements of his business, Tiro borrowed from First Bank at 12% compounded quarterly. The loan is to be settled by paying

To finance the operating requirements of his business, Tiro borrowed from First Bank at 12% compounded quarterly. The loan is to be settled by paying P50,000 every quarter for 8 years. Find Tiro's outstanding obligation at the end of 5 years after making all payments due.

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