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The terms of a lease are as follows: Annual lease of 1.0M 1st payment upon start of the lease and increases by 10% each year

The terms of a lease are as follows: Annual lease of 1.0M 1st payment upon start of the lease and increases by 10% each year for 5 years. A single lump sum payment at the start of the lease is acceptable If based on an interest rate of 5% compounded quarterly, how much is this lump sum?

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