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A cash flow series is increasing geometrically at the rate of 9% per year. The initial payment at EOY 1 is $4500, with increasing annual
A cash flow series is increasing geometrically at the rate of 9% per year. The initial payment at EOY 1 is $4500, with increasing annual payments ending at EOY 20. The interest rate is 17% compounded annually for the first seven years and 5% compounded annually for the remaining 13 years. Find the present amount that is equivalent to this cash flow.
The present amount that is equivalent to this cash flow series is $ . (Round to the nearest dollar.)
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