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12. Determine the value of (Z), so that the two cash-flow are equivalent if the nominal interest rate is 30% compounded semi-annual. F= 20% 1500

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12. Determine the value of (Z), so that the two cash-flow are equivalent if the nominal interest rate is 30% compounded semi-annual. F= 20% 1500 1400 1300 1200 1100 1000 (1.2)z Z Year 0 1 2 3 4 5 6 7 8 1 2 3 4 5 8

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