What present amount, at 12% interest compounded annually, is equivalent to this series of payments: Year 1-$10,000,

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What present amount, at 12% interest compounded annually, is equivalent to this series of payments: Year 1-$10,000, Year 2-$9,000, Year 3- $8,000, Year 4-$7,000, Year 5-$6,000? Solve using the gradient factors and then using only single payment present worth factors.
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Engineering Economy

ISBN: 978-0132554909

15th edition

Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

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