Louis receives a series of annual payments that start at $1,000 and decrease by $100 each year down to$100, then increas
Posted: Mon Apr 25, 2022 8:30 am
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.
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.