Engr. Velasco decided to subscribe in a globe promo which must be paid one thousand pesos per month for five years. However, the payment will start three years after from today. If the payment is 8%...

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Extracted text: Engr. Velasco decided to subscribe in a globe promo which must be paid one thousand pesos per month for five years. However, the payment will start three years after from today. If the payment is 8% compounded monthly. How much is the value of the money today? ANSWER: P = P38,826.1650