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Description: A series of cash flows begins at $12,675 the first year, with an increase each year untiln=10. If the interest rate is 12.675%, what is the present value when the annual increaseis $1,268?

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A series of cash flows begins at $12,675 the first year, with an increase each year until n=10. If the interest rate is 12.675%, what is the present value when the annual increase is $1,268?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 29P

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