Lanz Angelo works in a call center company and earns a net worth of P36,000 per month. He plans to loan P700,000 to put up an internet café business. A bank offers him 8% interest compounded every three months. If Lanz Angelo will set aside ⅓ of his monthly to pay his debt quarterly, for how long will he settle that debt?
with solution please
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Answer:
For long 20 months will he settle that debt.