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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
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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Financial and Managerial Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
11th Edition
9780538480901, 9781111525774, 538480890, 538480904, 1111525773, 978-0538480895
