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On an annual renewable lease, the semi-annual lease payment on office space is $6,100 payable...

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Question

Accounting

On an annual renewable lease, the

semi-annual

lease payment on office space is

$6,100

payable at the begining of every

six months.

What equivalent yearly payment made in advance would satisfy the lease if interest is

6.7%

compounded

semi-annually?

Answer & Explanation Solved by verified expert
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