Question
Find the equivalent present worth of the following cash flows where i = 6.9%. In other words, how much do you have to deposit
Find the equivalent present worth of the following cash flows where i = 6.9%. In other words, how much do you have to deposit now at Year O (with a second deposit as shown at the end of the first year) so that you will be able to withdraw $231 at the end of the second year, $102 at the end of the third year, and so forth if the bank pays you a 6.9% annual interest rate on your balance? Year 1: $-229 Year 2: $231 Year 3: $102 Year 4: $113 Year 5: $292
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Contemporary Engineering Economics
Authors: Chan S. Park
5th edition
136118488, 978-8120342095, 8120342097, 978-0136118480
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