Reference no: EM13721558
Calculate the equal quarterly series equivalent to the decreasing gradient series given below. Assume the interest rate is 8%. SHOW WORK.
a. $10,000 at the end of 1st Quarter
b. $9,500 at the end of 2nd Quarter
c. $9,000 at the end of the 3rd Quarter
d. $8,500 at the end of the 4th Quarter
e. $8,000 at the end of the 5th Quarter
f. $7,500 at the end of the 6th Quarter
g. $7,000 at the end of the 7th Quarter
h. $6,500 at the end of the 8th Quarter
i. $5,000 at the end of the 9th Quarter
j. $4,000 at the end of the 10th Quarter
k. $3,000 at the end of the 11th Quarter
l. $2,000 at the end of the 12th Quarter
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