Question: 1. A contract can be fulfilled by making an immediate payment of $19,300 or equal payments at the end of every six months for 7

1. A contract can be fulfilled by making an immediate payment of $19,300 or equal payments at the end of every six months for 7 years. What is the size of the semi-annually payments at 11.2% compounded semi-annually?

The payment is?

Round Intermediate values to six decimal places

The final answer should be to the nearest cent.

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