Question: Chapter 4 Problem 1: The cost of tuition increases each year by a geometric gradient of 10%. Calculate the PV, FV, and AV (PMT) of

Chapter 4 Problem 1: The cost of tuition increases each year by a geometric gradient of 10%. Calculate the PV, FV, and AV (PMT) of tuition costs. In year one, the tuition cost is $10,000, increasing by 10% the next year and each year afterward for the 4 year time to the degree. Use an interest rate of 6% annually?

a) What is the PV?

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