Find equal annual payment series that equivalent to payments


Find the equal annual payment series that would be equivalent to the following increasing series of payments if the interest rate is 12% (a) compounded annually; (b) compounded continuously.

$600 at the end of the first year
$800 at the end of the second year
$1,000 at the end of the third year
$1,200 at the end of the fourth year
$1,400 at the end of the fifth year
$1,600 at the end of the sixth year
$1,800 at the end of the seventh year.

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Mechanical Engineering: Find equal annual payment series that equivalent to payments
Reference No:- TGS0734203

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