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Consider a series of payments of $224 now, $210 in one year, $196 in two years, and so on, down to $14 at time 15
Consider a series of payments of $224 now, $210 in one year, $196 in two years, and so on, down to $14 at time 15 years. Using an annual effective interest rate of 9%, determine: (a) The present Value at time 0. (b) The accumulated Value at time 16 years. (A) 1303.45 (B) 1303.49 (C) 1303.51 (D) 1303.47 (E) 1303.43
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