Question: Show step-by-step solution and solve manually: 2. If a 3-year loan worth 100,000 pesos is to be repaid in equal monthly installments at 9% annual

Show step-by-step solution and solve manually:

2. If a 3-year loan worth 100,000 pesos is to be repaid in equal monthly installments at 9% annual interest compounded monthly, how much is the monthly payment?

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