Find the equal annual payment series that would be

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Reference no: EM13626692

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: EM13626692

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