An increasing annual uniform gradient series ends at the end of fifteenth year. What is the value of the gradient G that makes the gradient series equivalent to a uniform flow of payments of $1,000 per month for seven years at 12% compounded monthly?

An increasing annual uniform gradient series ends at the end of fifteenth year. What is the value of the gradient G that makes the gradient series equivalent to a uniform flow of payments of $1,000 per month for seven years at 12% compounded monthly?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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An increasing annual uniform gradient series ends at the end of fifteenth year. What
is the value of the gradient G that makes the gradient series equivalent to a uniform flow of
payments of $1,000 per month for seven years at 12% compounded monthly?

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