Pedro bought a new car today from Barboncito Motors. The former proposed to pay the latter the remaining balance of P700,000.00 in 35 equal monthly payments, with the first installment to be made one month from today, plus one final payment of P30,000.00 at the end of 36 months from date of agreement. If the interest rate applicable is 12% compounded monthly, and assuming that there will be timely payments, how much is the amount of Pedro’s Monthly Payment

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