Question: Show step-by-step solution. Compute manually. 2. A salary loan of 70,000 pesos is to be repaid by equal monthly payments for 18 months. The annual

Show step-by-step solution. Compute manually.

2. A salary loan of 70,000 pesos is to be repaid by equal monthly payments for 18 months. The annual interest rate is 10% compounded monthly. How much is the monthly payment?

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