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Equivalent to a series of equal

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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: EM131712785

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