What will the lease payments be every half year

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Reference no: EM132073742

RMIMS has taken a building on lease for 5 years. The lease contract is in the form of half yearly payments at a 10% stated annual interest rate (APR) compounded semi-annually.

The PV of lease payments is equal to `10 crore.

Suppose that the first payment is due immediately. What will the lease payments be every half year (in `crores if total no. of payments is 10 payments only)?

Provide the working in the space provided

Reference no: EM132073742

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