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Jordan leased equipment worth $40,000 for 7 years. If the lease rate is 3.75% compounded semi-annually, calculate the size of the lease payment that is

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Jordan leased equipment worth $40,000 for 7 years. If the lease rate is 3.75% compounded semi-annually, calculate the size of the lease payment that is required to be made at the beginning of each half-year. Round to the nearest cent

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