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Mr. green had a housing loan amounting to p2,743,912, and it was to be amortized by a group of 30 end of year payments in an ascending linear progression. mr. green had an initial payment of p93,000 during the first end of year. the interest rate of the loan was 15% compounded annually, how much should the increase of payment every year in the amortization?

Sagot :

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