The first of a series of equal semiannual cash flowsoccurs
Chapter , Problem 4-30(choose chapter or problem)
The first of a series of equal semiannual cash flowsoccurs on July 1, 2011, and the last occurs on Jan-uary 1, 2024. Each cash flow is equal to $128,000.The nominal interest rate is 12% compounded semi-annually. What single amount on July 1, 2015 isequivalent to this cash flow system?
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