The given CFD shows the gradients for end of years 2, 3, 4. Suppose that the interest rate is 15% per year, determine the ANNUAL equivalent of the series. Round off answer (no decimals). $3,000 $2,000 $1,000 + 1 2 3 End of Year

The given CFD shows the gradients for end of years 2, 3, 4. Suppose that the interest rate is 15% per year, determine the ANNUAL equivalent of the series. Round off answer (no decimals). $3,000 $2,000 $1,000 + 1 2 3 End of Year

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

The given CFD shows the gradients for end of years 2, 3, 4. Suppose that the
interest rate is 15% per year, determine the ANNUAL equivalent of the series.
Round off answer (no decimals). *
$3,000
$2,000
$1,000
1
2
3
End of Year
4.

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