Question
A$100,000investment is made over a 10 -year period. A return of$23,000occurs at the end of the first year. Each successive year yields a return that
A$100,000investment is made over a 10 -year period. A return of$23,000occurs at the end of the first year. Each successive year yields a return that is12%less than the previous year's return. If money is worth8%, what is the equivalent present worth for the investment? What is the equivalent annual worth for the investment? What is the equivalent future worth for the investment?
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Bank Management and Financial Services
Authors: Peter Rose, Sylvia Hudgins
9th edition
78034671, 978-0078034671
