Question: Consider a series of end-of-period CFs spanning 2043-2058, which decrease at a 0.3% rate each period. The amount of the first CF in the series

Consider a series of end-of-period CFs spanning 2043-2058, which decrease at a 0.3% rate each period. The amount of the first CF in the series is $123. The nominal interest rate is 3%; compounding occurs 4 times per year. What is the equivalent value of this series at the beginning of 2043? (answer: $5,722.97)

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