The first of series of equal monthly cash flows

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The first of a series of equal monthly cash flows of $2000 occurred on April 1,2008, and the last of the monthly cash flows occurred on February1, 2010. This series of monthly cash flows is equivalent to aseries of semi-annual cash flows. The first semi-annual cash flow occurred on July 1, 2011, and the last semi-annual cash flow will occur on January 1, 2020. What is the amount of each semi-annual cash flow? Use a nominal interest rate of 12% with monthly compounding on all accounts. a. $5,360 b. $6,470 c. $7,680 or d. $8,360?

Reference no: EM131244523

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