Make equal annual payments having the same present worth

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Reference no: EM131307803

An easy payment plan offered by a local electronics store for your new audio system calls for payments of $2,000 at the end of year 1, increasing by 15% each year thereafter through year 4 Your money is well invested and earns a consistent 10% per year. If you prefer to make equal annual payments having the same present worth how much would they be?

Reference no: EM131307803

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