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Hello there, there's an answer to this question but I need the solutions. Thank you!
A businessman borrowed P300,000.00 with interest at the rate of 6% compounded semi-annually. He agrees to discharge his obligations by paying a series of 8 equal semi-annual payments, the first being due at the end of 5 1/2 years. Find the semi- annual payments. Answer: P57,434.78
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