Question
5. What is the equal payment series for 12 years that is equivalent to a payment series of $15,000 at the end of the first
5. What is the equal payment series for 12 years that is equivalent to a payment series of $15,000 at the end of the first year, decreasing by $1,000 each year over 12 years? Interest is 8% compounded annually. (Please show work)
| a. | $11,548 | |
| b. | $9,000 | |
| c. | $15,000 | |
| d. | $10,404 |
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Climate Finance
Authors: Richard B. Stewart, Benedict Kingsbury, Bryce Rudyk
1st Edition
081474138X, 978-0814741382
