Find the equal annual payment-compounded continuously

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Find the equal annual payment series that would be equivalent to the following increasing series of payments if the interest rate is 12% (a) compounded annually; (b) compounded continuously.

$600 at the end of the first year

$800 at the end of the second year

$1,000 at the end of the third year

$1,200 at the end of the fourth year

$1,400 at the end of the fifth year

$1,600 at the end of the sixth year

$1,800 at the end of the seventh year

Reference no: EM13737149

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