# What is the equal payment series for 12 years that is equivalent to a payment series of

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## Question:

What is the equal payment series for 12 years that is equivalent to a payment series of $25,000 at the end of the first year, decreasing by $1,200 each year over 12 years? Interest is 7% compounded annually. Draw the cash flow diagram.

**Related Book For**

## Accounting Principles

ISBN: 978-0470533475

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso