Question: and it should include this exam booklet. 1. A series of equal monthly cash flows of $2,000 starts on 1 April 2016 and the

and it should include this exam booklet. 1. A series of equal

and it should include this exam booklet. 1. A series of equal monthly cash flows of $2,000 starts on 1 April 2016 and the last one is made on 1 February 2018. These cash flows are equivalent to a series of semi-annual cash flows which starts from 1 July 2019 to 1 January 2028. What is the amount of each semi-annual cash flow? Use a nominal interest rate of 12% with monthly compounding on all accounts. (8 pts)

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