Question: Find the value of P for which the inflows will equal the outflows. Find the effective rate first. Rate 18% p y c d Year

Find the value of P for which the inflows will equal the outflows. Find the effective rate first.

Rate 18% p y c d

Year Outflows Inflows

0 -P

1 -2P

2 -4P

3 -8P

4 -16P

5 $24,000

6 $30,000

7 $36,000

8 $42,000

9 $48,000

10 $54,000

a. $1,530

b. $2,545

c. $3,269

d. $3,490

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