Year End-of-Year Payment 1 $1400 2 $1320 3 $1240 4 $1190 5 $1000   What future sum, at time 5, is equivalent to the series of payments in the table, at a 10% interest rate? Select one: a. $7616 b. $7660 c. $7212 d. $5995

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Year

End-of-Year Payment

1

$1400

2

$1320

3

$1240

4

$1190

5

$1000

 

What future sum, at time 5, is equivalent to the series of payments in the table, at a 10% interest rate?

Select one:

a. $7616

b. $7660

c. $7212

d. $5995

 

 

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