q10, need answer in less than 5 mins

Question 10 2 Points A merchant sells an item worth 64,999 php. If an initial payment of 20,000 php was paid to the merchant and the rest was shouldered by a financial institution at 8% interest compounded semi-monthly, what amount is due to the institution after 11 months? . 48,417.03 php B 48,441.15 php 99,999.99 php D 108,329.42 php