The following series of payments will repaya 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