Determine the present worth (at time 0) of the following series of cash flows using a geometric gradient. The real interest rate is 5% per year.
EOY
Cash Flow
3
4
5
6
$1,000
$1,100
$1,210
$1,331
...
25
$8,140
Click the icon to view the interest and annuity table for discrete compounding when i = 5% per year.
The PW of the series of cash flows is $32340 (Round to the nearest dollar.)