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A person buys a piece of lot for 100,000 down payment and 10 deferred semi-annual payments of 8,000 each, starting three years from now. What

A person buys a piece of lot for 100,000 down payment and 10 deferred semi-annual payments of 8,000 each, starting three years from now. What is the present value of the investment if the rate of interest is 12% compounded semi-annually.

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