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A cash flow series is increasing geometrically at the rate of 9% per year. The initial...

A cash flow series is increasing geometrically at the rate of 9% per year. The initial payment at EOY 1 is $4,000,

with increasing annual payments ending at EOY 20. The interest rate is 16​% compounded annually for the first seven years and 4​% compounded annually for the remaining 13 years. Find the present amount that is equivalent to this cash flow.  

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