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ENGINEERING ECONOMICS
1. An employee was promised by his boss that he will have a salary of P295,000 on his ?rst month and will be increased by 30.7% on the succeeding months. What will be his total salary for one year if interest is 24% compounded annually.
2. A certain amount was borrowed today and to be paid for 5 years. The ?rst payment was P310300 made at the end ot the ?rst year and the succeeding payments to be increased by P30,500 per year. How much is the borrowed amount?
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