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A factory operator bought a diesel generator set for P 10,000.00 and agreed to pay the dealer uniform sum at the end of each year for 5 years at 8% interest compounded annually, that the final payment will cancel the debt for principal and interest. What is the annual payment?
- AP 2,500.57
- BP 2,544.45
- CP 2,540.56
- DP 2,504.57
Correct answer: D