What single amount is equivalent to a series of equal

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Reference no: EM131985135

What single amount (to the closest dollar) on July 1, 2008 is equivalent to a series of equal, semi-annual cash flows of $1,200, starting with a cash flow on July 1, 2004 and ending with a cash flow on January 1, 2013?

Use an interest rate of 12% and semi-annual compounding.

Reference no: EM131985135

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