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What is the periodic payment? What is the term? What is the rate of interest? What is the number of conversion period? How much did

  1. What is the periodic payment?
  2. What is the term?
  3. What is the rate of interest?
  4. What is the number of conversion period?
  5. How much did Fernan borrow?
  6. How much interest?
image text in transcribed Problem: Fernan borrows money to buy a motorcycle. He will repay the loan by making monthly payments of P 1 500.00 per month for the next 24 months at an interest rate of 9% per year compounded monthly. How much did Fernan borrow? How much interest does Fernan pay

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