Calculate the present value of each of the following cash flows at 12%. $4,000 is to be received at at the end of each of the next nine semiannual interest periods, plus $12,000 to be received at the end of each of the next five semiannual interest periods after that. Interest is compounded semiannually. What is the present value of this scenario? Please show work.

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Rate 12 annual Rate 6 semiannual r Present value Cash flow in period n 1 r n Cash flow in 1st to 9 p... View the full answer