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Determine the annual equivalent amount over 4 years for the following cash flow (CF) pattern. The nominal interest rate is 13%, and it is compounded

Determine the annual equivalent amount over 4 years for the following cash flow (CF) pattern. The nominal interest rate is 13%, and it is compounded monthly. (EOY = end of year)

EOY 0, CF = -$11,500

EOY 1, CF = -$3,500

EOY 2, CF = $13,000

EOY 3, CF = $5,000

EOY 4, CF = -$500

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