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Today, March 1, a refrigerator can be purchased by paying P3,500 down payment and a sequence of 12 monthly payments of P1,250, the first to

Today, March 1, a refrigerator can be purchased by paying P3,500 down payment and a sequence of 12 monthly payments of P1,250, the first to start on July 1. If money costs 16% compounded monthly, find the items cash value.

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