Problem
What single amount on April 1, 2012, is equivalent to a series of equal, semiannual cash flows of $1000 that starts with a cash flow on January 1, 2010, and ends with a cash flow on January 1, 2019? The interest rate is 14% and compounding is quarterly.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.