SOLUTION: Given $400,000 today, determine the equivalent series of 24 semi annual payments which could be generated beginning in 6 months. Assume interest can be earned at a rate of 7 percen

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Question 1164348: Given $400,000 today, determine the equivalent series of 24 semi annual payments which could be generated beginning in 6 months. Assume interest can be earned at a rate of 7 percent per year compounded semi annually''.
Answer by ikleyn(52775) About Me  (Show Source):
You can put this solution on YOUR website!
.

"equivalent" to WHAT  ?

What this set ow words REALLY MEANS   ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?