5-16.

a. What is the CW, when i = 15% per year, of $6,000 per year, starting in year one and continuing forever;

and $20,000 in year five, repeating every four years thereafter, and continuing forever? (5.3)

b. When i = 15% per year in this type of problem, what value of N, practically speaking, defines

“forever”? (5.3)