What single amount on july is equivalent to this system

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The first of a series of equal semiannual cash flows occurs on July 1,2011, and the last occurs on January 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 is equivalent to this cash flow system?

Reference no: EM13149806

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