# What is the equal-payment series for 10 years that is equivalent to a payment series starting with $30,000 at the end of the first year and decreasing by$3,000 each year over 10 years? Interest is 8% compounded annually.

Question

What is the equal-payment series for 10 years that is equivalent to a payment series starting with $30,000 at the end of the first year and decreasing by$3,000 each year over 10 years? Interest is 8% compounded annually.