What cash payment is equivalent to making payments of $1551.00 at the end of every year for 7 years if interest is 12% per annum compounded quarterly? The cash payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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What cash payment is equivalent to making payments of $1551.00 at the end of every year for 7 years if interest is 12% per annum compounded quarterly?
The cash payment is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Transcribed Image Text:What cash payment is equivalent to making payments of $1551.00 at the end of every year for 7 years if interest is 12% per annum compounded quarterly? The cash payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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