SOLVE PROBLEM NUMBER 7

6. (8 points) What annual expenditure for 12 years is equivalent to spending $1,000 at the end of the first year, $1,500 at the end of the fifth year, and $2,000 at the end of the ninth year if thoe interest rate is 8% per annum? 7. (4 points) What single amount paid at the beginning of the first year is equivalent to the series of unequal payments in #6, with an interest rate of 8%