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Question 3 [1 Mark] You spend $2,000 in years 0 thru 5,$2,200 in year 6,$2,400 in year 7 and the amounts are increasing by $200

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Question 3 [1 Mark] You spend $2,000 in years 0 thru 5,$2,200 in year 6,$2,400 in year 7 and the amounts are increasing by $200 per year until year 12 . The interest rate is 12% per year. (a) What is the total present worth in year 0 ? (b) What is the equivalent annual worth (years 1-12)

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