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A contract calls for semi-annual payments of Php 40,000.00 for the next 10 years and an additional payment of Php 250,000.00 at the end of

A contract calls for semi-annual payments of Php 40,000.00 for the next 10 years and an additional payment of Php 250,000.00 at the end of that time. Find the equivalent cash value of the contract at 7% compounded semi-annually.

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