The following series of payments will repay a present sum of $5000 at an 8% interest rate.
Question:
The following series of payments will repay a present sum of $5000 at an 8% interest rate. Using single payment factors, what present sum is equivalent to this series of payments at a 10%interest rate?
End of Year
Year Payment
1................................$1400
2................................. 1320
3................................. 1240
4................................. 1160
5................................. 1080
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P 1400 PA 10 5 80 PG 10 5 1400 3791 80 6862 47...View the full answer
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