What single payment at the end of year 5 is equivalent to an equal annual series of payment of $800 beginning at the end of year 3 and ending at the end of year 12? The interest rate is 10% compound annualy.   Kindly answer this engineering economy problem above. Thank you

Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)
5th Edition
ISBN:9781305084766
Author:Saeed Moaveni
Publisher:Saeed Moaveni
Chapter20: Engineering Economics
Section: Chapter Questions
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What single payment at the end of year 5 is equivalent to an equal annual series of payment of $800 beginning at the end of year 3 and ending at the end of year 12? The interest rate is 10% compound annualy.

 

Kindly answer this engineering economy problem above. Thank you

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