7. Consider a geometric series of cash flows whose first cash flow occurs at time 1 and continues through time 30. The first cash flow has a magnitude of $1,500 and this amount increases by 8% each period. Find the future equivalent value (time 30) of this series if the interest rate is 10% per period.
7. Consider a geometric series of cash flows whose first cash flow occurs at time 1 and continues through time 30. The first cash flow has a magnitude of $1,500 and this amount increases by 8% each period. Find the future equivalent value (time 30) of this series if the interest rate is 10% per period.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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