What is the equal payment series for given time

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Reference no: EM132083021

Question: 1. UoI is soliciting gifts for the new Engineering Economy building (to be announced on April 1). Maintenance money for the new building totals $50,000 for each of the first five years, and $70,000 each year after that. The building has an indefinite service life. How much needs to be given now to cover the maintenance costs, if the interest paid is 10% annually? Continue over if necessary.

2. What is the equal payment series for 15 years that is equivalent to a payment series of $10'000 at the end of the first year decreasing by $500 each year over the next 14 years? Interest is 9% compounded annually

Reference no: EM132083021

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