to $1.77 million in year 7, $1.74 million in year 8, and amounts decreasing by S30,000 each year through year 15. determine the equivalent values listed below at 16% per year a) the equivalent annual series of the pumping costs over the last 10 years b) the equivalent annual series of the pumping costs from year 3 to 10. c) Equivalent worth of the project at the end of year 6. d) the initial cash flow of the equivalent geometric series with increase rate of 15% starting from year 3 and ending in year 20. 2. A foursome of entrepreneurial electrical engineering graduates has a plan to start a new solar power equipment company based on STE (solar thermal electric) technology. They have recently approached a group of investors with their idea and asked for a loan of $7.5 million. Within the agreement, the loan is to be repaid by allocating 70% of the company's profits each year for the first 8 years to the investors. In the ninth year, the company will pay the balance remaining on the loan in cash. The company's business plan indicates that they expect to make no profit. for the first year, but in years 2 through 8, they anticipate profits to be $1.8 million per year. If the investors accept the deal at an interest rate of 12% per year, and the business plan works to perfection, what is the expected amount of the last loan 0 payment (in year 9)? A small company that makes modular bevel gear drives with a tight swing ratio for optimizing pallet truck design was told that the interest rate on a mortgage loan would be an effective 4% per quarter, compounded monthly. The owner was con- uad uet eln What are (al the APR and (b) the