Question: Show all work. The answer must include PAINFG and the cash flow diagrams. P = Present value (this value is not used in this problem)

Show all work.

The answer must include PAINFG and the cash flow diagrams.

P = Present value (this value is not used in this problem) A = Annuity; this is the value that is given in this problem i = Effective interest rate n = Number of payments F = Future value; this is the value that we want to find in this problem (F = ?) G = Gradient value (this value is not used in this problem)

  1. The City of Boca Raton has decided to borrow funds to improve the NW/SW 4th Ave roadway improvement project. Kayla gives them a cost estimate of $14 million, including her fees. What is the annual debt service amount if the bonds are 4% for 30 years?

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