Louis receives a series of annual payments that start at $1,000 and decrease by $100 each year down to$100, then increas

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answerhappygod
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Louis receives a series of annual payments that start at $1,000 and decrease by $100 each year down to$100, then increas

Post by answerhappygod »

Louis receives a series of annual payments that
start at $1,000 and decrease by $100 each
year down to$100, then increase again by $100
each year back up to $1,000 and then the
payments stop. Assume that payments begin
immediately and that the annual effective
interest rate is i = 9%. Determine the present value of this series of payments without using excel
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