What single sum of money occurring at t = 5 will be equivalent to a cash flow
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Question:
What single sum of money occurring at t = 5 will be equivalent to a cash flow series consisting of $7,000 at t = 1, $6,000 at t = 2, $5,000 at t = 3, $4,000 at t = 4, $3,000 at t = 5, $2,000 at t = 6, and $1,000 at t = 7, based on an interest rate of:
a) 6%
b) 10%
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