You expect to receive the following: $3,214 at the end of each year for 12 years $16,664 today $4,451 at the end of year 6 $1,341 at the end of each year forever $9,834 at the end of 15 years What is the uniform annual payment for the first 12 years equivalent to the above payment scheme, if the interest rate is 8%? Enter your answer as follow: 123456
You expect to receive the following: $3,214 at the end of each year for 12 years $16,664 today $4,451 at the end of year 6 $1,341 at the end of each year forever $9,834 at the end of 15 years What is the uniform annual payment for the first 12 years equivalent to the above payment scheme, if the interest rate is 8%? Enter your answer as follow: 123456
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question

Transcribed Image Text:You expect to receive the following:
$3,214 at the end of each year for 12 years
$16,664 today
$4,451 at the end of year 6
$1,341 at the end of each year forever
$9,834 at the end of 15 years
What is the uniform annual payment for the
first 12 years equivalent to the above payment
scheme, if the interest rate is 8%?
Enter your answer as follow: 123456
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