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Calculate the semi-annual lease payment

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Reference no: EM132465177

Raleigh Inc. is considering leasing a piece of equipment with a fair value of $108,000 for three years. The current market interest rate for financing the equipment is 5% compounded semi-annually.

Question 1: Calculate the semi-annual lease payment assuming that the payment is made at the end of the period (round to the nearest dollar).

Reference no: EM132465177

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