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•
where:
•
• A = number of payments per year
• B = number of years that payments increase
• C = percentage increase in periodic payments (as a decimal)
• PMT
1
= amount of the first payment
PV PMT
1
1
1I+()
A
I
----------------
1Q+()
B
1
Q
----------------------
1 C
+()
B
1
1I+()
nAB–()
I
-----------------
1I+()
AB
----------------------------------------------+
=
-
-
-
-
-
Q
1C+
1I+()
A
------------------- 1–=