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A contract can be fulfilled by making an immediate payment of $20,600 or equal payments at the end of every six months for 12 years.
A contract can be fulfilled by making an immediate payment of $20,600 or equal payments at the end of every six months for 12 years. What is the size of the semi-annually payments at 8.2% compounded semi-annually? The payment is s (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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