A set of cash flows begins at 20000 the first year with an


A set of cash flows begins at $20,000 the first year, with an increase each year until n = 10 years. If the interest rate is 8%, what is the present value when

a) the annual increase is $2000?

b) the annual increase is 10%?

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Macroeconomics: A set of cash flows begins at 20000 the first year with an
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