Find the value of x that makes the equivalent annual worth in years 1 through 12...

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Find the value of x that makes the equivalent annual worth in years 1 through 12 equal to $500 per year. Use an interest rate of 8% per year.

The cash flows in year 0 and year 12 has an unknown value x, and 1 through 11 has an annual worth of $500.

The value of x is determined to be $?

business economics

Answer 1

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