Question: 3) (10 points) Consider a geometric gradient, which lasts for 8 years, whose initial value at the end of year one is $5000 and the

3) (10 points) Consider a geometric gradient, which lasts for 8

3) (10 points) Consider a geometric gradient, which lasts for 8 years, whose initial value at the end of year one is $5000 and the average rate of change is (t) = 6% per year thereafter. The interest rate is 8% per year. What is the Present Value (Po) of this geometric gradient series

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