An organization bought services from Panda and Co. for an optimization project. Immediate payment would have been ₱700,000 but they decided to take a 12-month installment plan at 8% interest compounded monthly. If payments are made at the end of each month, what is the monthly payment?
A. P55,199.12L
B. P55, 770.11L
C. P60, 904.85.
D. P48, 081.37.
