Develop a general formula for the present value

Reference no: EM13276346

Develop a general formula for the present value of a decreasing annuity immediate. The first payment, X, is received at time 1. Each subsequent payment decreases by a fixed amount D. There are a total of n payments. The final payment, F, equals X-D(n-1). Write the formula here and show your work.

Reference no: EM13276346

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