Question

Year End-of-Year Payment 1 $1400 2 $1320 3 $1240 4 $1190 5 $1000 What future sum,...

Year

End-of-Year Payment

1

$1400

2

$1320

3

$1240

4

$1190

5

$1000

What future sum, at time 5, is equivalent to the series of payments in the table, at a 10% interest rate?

Select one:

a. $7616

b. $7660

c. $7212

d. $5995

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