Question: A contract will pay you $ 5 0 0 0 per year every other year for the next 3 0 years. That is , since

A contract will pay you $5000 per year every other year for the next 30 years. That is, since today is time 0, the contract will pay you $5000 in year 2,4,6,...,28,30. The discount rate is 8% compounded semiannually. What is the present value of this contract?

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