Question: A farmer bought a tractor costing Php 25,000 payable in ten semi- annual payments, each installment payable at the beginning of each period. If the

A farmer bought a tractor costing Php 25,000 payable in ten semi- annual payments, each installment payable at the beginning of each period. If the rate of interest is 26% compounded semi- annually, determine the amount of each installment.

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