A series of equal semi-annual payments of $1200 for 4 years is equivalent to what present amount at an interest rate of 12% compounded annually. Note: Do not round in between solution. Final answer round to the nearest whole number.

A series of equal semi-annual payments of $1200 for 4 years is equivalent to what present amount at an interest rate of 12% compounded annually. Note: Do not round in between solution. Final answer round to the nearest whole number.

Financial Management: Theory & Practice

16th Edition

ISBN:9781337909730

Author:Brigham

Publisher:Brigham

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 12MC: (1) What is the value at the end of Year 3 of the following cash flow stream if the quoted interest...

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A series of equal semi-annual payments of $1200 for 4 years is equivalent to what present amount at an interest rate of 12% compounded annually.

Note: Do not round in between solution. Final answer round to the nearest whole number.

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