Using the spreadsheet in Sidebar 15-8, determine at what periodic interest rate a $2,000 cash receipt occurring
Question:
Using the spreadsheet in Sidebar 15-8, determine at what periodic interest rate a $2,000 cash receipt occurring at the beginning of year 1 is equivalent to four cash disbursements: a $575 cash disbursement occurring at the end of year 1, a $600 cash disbursement occurring at the end of year 2, a $625 cash disbursement occurring at the end of year 3, and a $650 cash disbursement occurring at the end of year 4. The periodic interest rate is compounded annually.
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Related Book For 
Construction accounting and financial management
ISBN: 978-0135017111
2nd Edition
Authors: Steven j. Peterson
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