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A contract calls for semiannual payments of P40,000 for the next ten years and an additional payment of P250,000 at the end of the term.

A contract calls for semiannual payments of P40,000 for the next ten years and an additional payment of P250,000 at the end of the term. Find the equivalent cash value of the contract at 7% compounded semiannually.

a. P444,526

b. P752,777

c. P598,589

d. P694,138

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