Question: please solve by hand (5) An injection molding press is purchased for $175,000. It is agreed that the press will be paid for over a

please solve by hand (5) An injection molding press is purchased

please solve by hand

(5) An injection molding press is purchased for $175,000. It is agreed that the press will be paid for over a five-year period with annual payments and using a 10% annual compound interest rate. Each payment is to be $5,000 less than the previous payment. Determine the size of the first payment

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