Question: What single amount on April 1, 2012, is equivalent to a series of equal, semiannual cash ows of $1000 that starts with a cash ow
What single amount on April 1, 2012, is equivalent to a series of equal, semiannual cash ows of $1000 that starts with a cash ow on January 1, 2010, and ends with a cash ow on January 1, 2019? The interest rate is 14% and compounding is quarterly. What equations do I use to find the answer?
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
