A loan with a period of 5 years and with an interest of 5% compounded...
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Accounting
A loan with a period of 5 years and with an interest of 5% compounded annually has to be paid an amount of P10,000 on the first year, P11,000 on the second year, P12,100 on the 3rd year, P13,310 on the 4th year, and 14,641 on the 5th year, if there is an option of paying the loan in a uniform payment with 5% compounded annually, how much is the yearly payment
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