Answer:
The answer is "p= $5,246".
Step-by-step explanation:
Using formula:
Present value of [tex]\frac{in-flow}{out-flow}[/tex] = cash-flow [tex]\times[/tex] present value of discounting factor(rate %, time period)
[tex]\to -p-\frac{2p}{1.08}-\frac{4p}{1.08^2}- \frac{8p}{1.08^3}-\frac{16p}{1.08^4} =\frac{24000}{1.08^5}+ \frac{30000}{1.08^6}+ \frac{36000}{1.08^7} + \frac{42000}{1.08^8}+ \frac{48000}{1.08^9}+ \frac{24000}{1.08^{10}}\\\\[/tex]
[tex]\to -p[1+\frac{2}{1.08}+\frac{4}{1.08^2}+ \frac{8}{1.08^3}+\frac{16}{1.08^4}] = 127960.43169\\\\\to -p[24.3923427] = 127960.43169\\\\\to -p = \frac{127960.43169}{24.3923427}\\\\\to p= 5245.93\\\\\to p= 5246[/tex]
