What single amount paid at the beginning of the first year is equivalent to the series of unequal payments in question number 6 (pictured below), with an interest rate of 8%? Also,draw a properly labeled Cash Flow Diagram for this question.

Here is the question referred to as number 6

(8 points) What annual expenditure for 12 years is equivalent to spending $1,000 at the end of the first year, $1,500 at the end of the fifth year, and $2,000 at the end of the ninth year if the interest rate is 8% per annum? 6