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Consider a series of end-of -period CFs spanning 2045-2056, which decrease by a fixed amount each period. The amount of the first CF in the
Consider a series of end-of -period CFs spanning 2045-2056, which decrease by a fixed amount each period. The amount of the first CF in the series is $1,097 and the decrement is $73. The interest rate is 2.6%. What is the equivalent value of this series at the beginning of 2045? (answer: $7,318.57)
Please show all work written out with formulas. I need to know how to arrive at the answer thanks.
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