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April 24, 2014

Homework Help: Economics

Posted by katie on Saturday, February 23, 2013 at 8:30am.

A $90,000 investment is made. Over a 5 year period, a return of $30,000 occurs at the end of the first year.

Each successive year yields a return that is $3,000 less than the previous year's return.

If money is worth 5 percent, use a gradient series factor to determine the equivalent present worth for the investment.

ANSWER is = $15,173.55

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