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