When trying to get a loan from alocal bank a contractor was asked to provide a general estimateof your annual expenses. A component of expenses is shown in the diagram of cash flow from the bottom. Convert the amounts shownin a heap (C) uniform annual from years 1 to 8, with the use of an interest rateof 12% per year. Note: This is about finding a c that is the same between years 1 through 8.

0 1 2 3 4 5 6 7 8 Ao $1 000 $3 000 $5 000