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| rev | Admin | (Created page with "'''Solution: A''' The present value of the first eight payments is: <math display = "block"> 2000v+2000(1.03)v^{2}+...+2000(1.03)^{7}v^{8}={\frac{2000v-20000(1.03)^{8}v^{7}}{1-1.03v}} = 13,136.41. </math> The present value of the last eight payments is <math display = "block"> \begin{split} 2000(1.03)^{7}0.97v^{9}+2000(1.03)^{7}(0.97)^{2}v^{10}+\cdots+2000(1.03)^{7}(0.97^{9})v^{96} \\ =\frac{2000(1.03)^{7}0.97v^{9}-2000(1.03)^{7}(0.97)^{9}v^{17}}{1-0.97v}=7,552.2...") | Nov 18'23 at 22:13 | +575 |