The present worth of an increasing geometric gradient is $23,632. The interest rate is 6% per year

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The present worth of an increasing geometric gradient is $23,632. The interest rate is 6% per year and the rate of change series is 4% per year. If the cash flow in year 1 is $3,000, the year in which the gradient ends is:

(a) 7

(b) 9

(d) 12

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Engineering Economy

ISBN: 978-0073523439

8th edition

Authors: Leland T. Blank, Anthony Tarquin

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Question Posted: Dec 24, 2018 05:57 AM

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The present worth of an increasing geometric gradient is $23,632. The interest rate is 6% per year

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b 23632 30001 1 004 n 1 006 ...View the full answer

Engineering Economy

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