Question: Answer complete with full steps to get 100% feedback!! (hand calculation) A student is working. In year one the income tax paid is $2800 and

Answer complete with full steps to get 100% feedback!! (hand calculation)

A student is working. In year one the income tax paid is $2800 and this payment increases by 3% each year until year 5 which is the graduation year. Determine the present worth of the amount paid in tax at an interest rate of 7% per year?

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