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Payments on a $ 4 7 , 6 0 0 equipment leased for 3 . 5 years are to be made at the beginning of

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Payments on a $47,600 equipment leased for 3.5 years are to be made at the beginning of every six months, the residual value is $9,000. If interest is 8.2% compounded semiannually, what is the size of each payment?
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