Question: A contract can be fulfilled by making an immediate payment of $7,500 or equal payments at the end of every 6 months for 10 years.

A contract can be fulfilled by making an immediate payment of $7,500 or equal payments at the end of every 6 months for 10 years. 'What is the size of the semi-annual payments at 9.6% compounded semi-annually? (Ans: $591.66)

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