please get that answer! A company owes P $80,000,$ which includes the interest, to be paid one year from now. To provide

for the repayment of this debt, the company deposits P $2,000$ at the beginning of the first month,

P $4,000$ at the beginning of the second month, increasing the deposits in each succeeding month by

P $2,000$ until the beginning of the eighth month. These amounts earn interest at the rate of $9\%$

compounded monthly. Will the total amount in the fund at the end of $12$ months be sufficient to

repay the debt? If not, how much more is needed?

$($Ans$.$ Additional amount $=P28,301\mathrm{.}58)$