Question: An equipment Contract requires a client to pay fixed monthly payments (end of month) of $100,000 over a period of 2 years for a service

An equipment Contract requires a client to pay fixed monthly payments (end of month) of $100,000 over a period of 2 years for a service Contract. The prevailing interest rate will be charged at 5.2% per annum. Calculate the present value of the equipment Contract to the contractor?

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