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Foxtrot borrowed from Yankee a total amount of P 5,000,000.00 contracted as follows:1. June 1, 2020 - P 1,000,000.00, due on July 30, 2020;2. July 1, 2020 - P 1,500,000.00, due on September 30, 2020;3. September 1, 2020 - P 2,500,000.00, due on November 30, 2020. All the foregoing obligations have 2.5% interest per month. Assuming that on December 1, 2020 Foxtrot paid P 500,000.00 of his obligations above, which of the three obligations should the payment be applied?
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