36. Compounding intervals (S2.4) A leasing contract calls for an immediate payment of $100,000 and nine subsequent

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36. Compounding intervals (S2.4) A leasing contract calls for an immediate payment of

$100,000 and nine subsequent $100,000 semiannual payments at six-month intervals. What is the PV of these payments if the annual discount rate is 8%?

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