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Consider a payment series that starts with $7,000 at the end of year 1, and then decreases by $1,000 each subsequent year for 10 years. If you were to convert this series to an annual equal-payment

Consider a payment series that starts with $7,000 at the end of year 1, and then decreases by $1,000 each subsequent year for 10 years. If you were to convert this series to an annual equal-payment series, what would be the amount of each payment if the interest rate is 6.5%?

Apr 16 2021 View more View Less

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