Describe regressive-proportional and progressive financing

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1. Describe regressive, proportional, and progressive financing. Explain how each of the following is regressive, proportional, or progressive.

2. What is the future value of a 6-year ordinary annuity with annual payments of $400, evaluated at a 14 percent interest rate?

3. What is the present value of a 3 year, $3,000 per year annuity at 3 percent?

Reference no: EM131995045

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