a series of 12 annual payments of $2400 is equivalent to three equal payments, one each at the end of 12 years, 16 years, and 20 years. The interest is 8%, compound annually. What is the amount of the three equal payments? express your answer in whole number.
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a series of 12 annual payments of $2400 is equivalent to three equal payments, one each at the end of 12 years, 16 years, and 20 years. The interest is 8%, compound annually. What is the amount of the three equal payments? express your answer in whole number.
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