Louis receives a series of annual payments that start at $1,000 and decrease by $100 each Louise receives a series of an

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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 Louise receives a series of an

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Louis receives a series of annual payments that start at $1,000 and decrease by $100 each
Louise 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 the annual effective
interest rate is i = 9%.
Determine the present value of this series of payments.
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