Question: What is the equal payment series for 15 years that is equivalent to a payment series of $10'000 at the end of the first year decreasing by $500 each year over the next 14 years? Interest is 9% compounded annually Gradient series
A man's salary is now $15'000 per year, and he anticipates retiring in 30 more years. If his salary is increased by $900 each year and he deposits 10% of his yearly salary in to a fund that earn 7% interest compounded annually, what will be the amount accumulated at the time of his retirement?
A series of payments-$10,000 first year $9,000 second year; $8,000 third year; $7,000, fourth year; and $6,000, fifth year-is equivalent to what present amount at 10% interest compounded annually? Solve this problem using the gradient factor, and then solve it using only the single-payment present-worth factor.