Question
If an investment offers the following year-end cash flows: 1$20,000 2$15,000 3$10,000 Using a 10% interest rate, convert this series of irregular cash flows to
If an investment offers the following year-end cash flows:
1$20,000
2$15,000
3$10,000
Using a 10% interest rate, convert this series of irregular cash flows to an equivalent (in present value terms) 3 year annuity.What would be the annuity amount per year?
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Personal Finance
Authors: Jeff Madura
7th Edition
0134989961, 978-0134989969
