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A contract can be fulfilled by making an immediate payment of $9151,or equal payments at...

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Question

Accounting

A contract can be fulfilled by making an immediate payment of $9151,or equal payments at the end of every year for 4 years. What is the size of the annual payments at 5% per annum compounded semi-annually?

Part 1

The annual payments are $________enter your response here.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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